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Mortgages › Mortgage Loan Originators › Fannie Mae

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Ballard Spahr LLP

Fannie Mae and Freddie Mac Extend Origination Flexibilities Due to COVID-19

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As previously reported, the Federal Housing Finance Agency (FHFA) recently announced the extension of various Fannie Mae and Freddie Mac origination flexibilities due to COVID-19 to September 30, 2020. Fannie Mae, in updates...more

Ballard Spahr LLP

FHFA Announces Fannie Mae and Freddie Mac Will Continue Purchasing Loans in a COVID-19 Forbearance

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As previously reported, Fannie Mae and Freddie Mac recently announced that there are no plans to extend the eligibility for purchase of loans in a COVID-19 forbearance for loans with note dates after August 31, 2020....more

Ballard Spahr LLP

Fannie Mae and Freddie Mac announce adverse market LLPA

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On August 12, 2020, Fannie Mae and Freddie Mac announced that the cost to originate and to deliver single family limited cash out refinances and cash out refinance mortgage loans would increase by one half of one percent...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Further Extend Origination Guidance Based on COVID-19

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On July 9, 2020, Fannie Mae in updates to Lender Letters 2020-03 and 2020-04 and Freddie Mac in Bulletin 2020-27 announced the further extension of origination guidance based on COVID-19 (the Freddie Mac action extends the...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Extend COVID-19 Origination Guidance

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On June 10, 2020, Fannie Mae in updates to Lender Letters 2020-03, 2020-04, and 2020-06 and Freddie Mac in Bulletin 2020-23 extend temporary COVID-19 origination guidance....more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Update Origination Guidance Based on COVID-19

Ballard Spahr LLP on

On May 28, 2020, Fannie Mae in updates to Lender Letter 2020-03 and Lender Letter 2020-04 and Freddie Mac in Bulletin 2020-19 updated their temporary origination requirements based on COVID-19....more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Update Origination and Appraisal Guidance Based on COVID-19 and Suspend Bulk Purchases

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On May 5, 2020 Fannie Mae updated Lender Letter 2020-03 and Lender Letter 2020-04 and Freddie Mac issued Bulletin 2020-14, to update and extend temporary origination and appraisal guidance based on COVID-19. The Freddie Mac...more

Bilzin Sumberg

A Resurgence of Residential Mortgage Repurchase Claims on the Horizon

Bilzin Sumberg on

A surge in repurchase claims against mortgage originators may be imminent as aggregators and servicers face nonpayment of debt obligations and liquidity shortfalls resulting from an increase in residential mortgage loans put...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Further Revise Origination Guidance In Connection With COVID-19

Ballard Spahr LLP on

On April 14, 2020, Fannie Mae again updated Lender Letter 2020-04 and Freddie Mac issued Bulletin 2020-11 to further revise their guidelines regarding mortgage loan originations in view of COVID-19 with regard to appraisals...more

Bricker Graydon LLP

Fannie Mae releases new Lender Letters on originations and appraisals

Bricker Graydon LLP on

In its evolving response to the COVID-19 pandemic, Fannie Mae has released two separate Lender Letters addressing originations and appraisals. Lender Letter LL-2020-03 addresses questions and concerns of industry partners...more

Ballard Spahr LLP

California Amends RMLA: Federal Agency Approval Not Required For Processing and Underwriting Companies

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Effective January 1, 2017, the definition of lender under the California Residential Mortgage Lending Act (RMLA) will be amended to include third-party processors and/or underwriters who do not solicit loan applicants,...more

K&L Gates LLP

GSEs Release Revised Framework for Origination Defects and Remedies — The Proof Will Be in the Execution

K&L Gates LLP on

By recently releasing yet another revised representation and warranty framework, Fannie Mae and Freddie Mac continued their efforts to assuage the concerns of the lending industry that a default by a borrower poses an unfair...more

Bilzin Sumberg

Mid-2015 Mortgage Crisis Update – The Repurchase Demands Continue

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In the aftermath of the financial crisis, Fannie Mae and Freddie Mac aggressively demanded Wall Street and big bank aggregators (“aggregators”) repurchase millions of defaulted and distressed loans, due to purported breaches...more

Bilzin Sumberg

Fraud Verdict Against Countrywide & BofA Upheld

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BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District Court for the Southern...more

Bilzin Sumberg

Citigroup Resolves Mortgage Buyback Dispute With Fannie Mae

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$968 Million Settlement - During the aftermath of the financial crisis, Fannie Mae and Freddie Mac have been aggressively demanding that Wall Street and big bank aggregators repurchase millions of defaulted and...more

Bilzin Sumberg

Citigroup Resolves Mortgage Buyback Dispute with Fannie Mae

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During the aftermath of the financial crisis, Fannie Mae and Freddie Mac have been aggressively demanding that Wall Street and big bank aggregators repurchase millions of defaulted and distressed loans for alleged breaches of...more

Bilzin Sumberg

Big Banks Fail 2012 Fannie Mae Star Program

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According to a report released Tuesday by Fannie Mae, the big banks who love to act like “injured innocents” when it comes to making mortgage repurchase and indemnification demands on loan originators had their own...more

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