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"Mortgage servicers looking to get their hands on some Fannie Mae and Freddie Mac mortgage servicing rights have that opportunity, as $2.8 billion in Fannie and Freddie MSRs just hit the market. According to MountainView Servicing Group, which is acting as the exclusive sale advisor, the portfolio features the mortgage servicing rights on 12,713 loans with an average loan size of $223,765. According to MountainView, the underlying pool of loans is 100% fixed-rate 1st lien product and contains 72% purchase mortgages. All of the loans . . .", www.housingwire.com
"Fannie Mae and Freddie Mac today announced a redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage loan. Here is the joint release from the government-sponsored enterprises on the topic. The revisions marketed the first substantial revisions made to the form in over 20 years. The changes will allow lenders to deliver an easier, more consumer-friendly loan application experience. 'The redesigned URLA allows much greater flexibility than in the past by acknowledging that not all loan applications are . . .", www.housingwire.com
"Fannie Mae and Freddie Mac today announced a redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage loan. In addition to the new Uniform Residential Loan Application, there is also a separate form called the Lender Loan Information form. The industry’s response to the new forms is varied. While some are very excited about the new changes, others expressed only concern. The new flow will make the form easier to understand for consumers and a quicker process for lenders, said Frank . . .", www.housingwire.com
"The government-sponsored enterprises (GSEs) simultaneously released an upgraded version of the Uniform Residential Loan Application (URLA), the standard document used when applying for a single-family mortgage. The redesign marks the first major URLA revision in more than 20 years, and the changes were brought in to ensure a more user-friendly experience. The GSEs has also created a common corresponding dataset, called the Uniform Loan Application Dataset that will guarantee greater consistency in data delivery.", nationalmortgageprofessional.com
"In what is already being called a “blow to shareholders,” a federal court in Virginia ruled Tuesday that a Freddie Mac shareholder does not have the right to inspect the government-sponsored enterprise’s financial records, thanks to the conservatorship agreements that went into effect when the government took over Freddie Mac and Fannie Mae. The United States District Court for the Eastern District of Virginia tossed out a lawsuit brought against Freddie Mac by Tim Pagliara, who sought to review the GSE’s books in an attempt . . .", www.housingwire.com
"New specifications for Fannie Mae and Freddie Mac s common mortgage application unveiled Tuesday add data points and remove obsolete questions, as well as include additional capabilities to promote digital mortgage workflows.", www.nationalmortgagenews.com
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