General World News

Trade groups commend Fannie Mae’s newest step to address buybacks

Mortgage trade groups have commended the moves taken by the Federal Housing Finance Agency (FHFA) and the government-sponsored enterprises (GSEs) to address a spike in loan buybacks — the latest being a new electronic notification made available by Fannie Mae. But advocates also say more is needed to improve the loan repurchase process.  

On Feb. 24, Fannie Mae announced the addition of a “notice of potential defect” functionality to the latest version of its system Loan Quality Connect. The new alert is similar to the “loan quality defect notice” that Fannie Mae has retired. A details ⇒

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