Fannie Mae will soon announce initiatives to expand its title waiver pilot program, Federal Housing Finance Agency (FHFA) Director Bill Pulte said Tuesday.

The program, announced by President Joe Biden during his March 2024 State of the Union address, aimed at reducing closing costs as part of a broader “war on junk fees.” It allows approved lenders to use automated title review processes during loan manufacturing and prior to loan purchase.

Currently, the program is limited to certain refinance loans with loan-to-value ratios of less than 80% in specific geographic areas.

“Fannie Mae details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com