Freddie Mac rolled out standardized subordinate lien documents for subordinate mortgages offered by down payment assistance (DPA) providers to facilitate easier and greater use of DPA program

Historically, subordinate-lien documents for various DPA programs have been housing finance agency (HFA)-specific and worded differently, leaving room for confusion when interpreting terms and payment plans. 

“Saving for a down payment continues to be the largest barrier to homeownership for lower-income and first-time homebuyers,” said Danny Gardner, single-family senior vice president of mission and community engagement at Freddie Mac.

“By embracing standardization and creating a set of industry-wide details ⇒

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