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Freddie Mac announces standardized mortgage documents for DPA programs

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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