Industry News

Freddie Mac issues new restrictions on subprime hybrid ARMs

New underwriting requirements take effect Sept. 1
Published on Feb 27, 2007

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by CareyBot

Government-sponsored mortgage repurchaser Freddie Mac says that beginning Sept. 1 it will buy subprime adjustable-rate mortgages only if buyers are qualified at the fully indexed and fully amortizing rate. Freddie Mac will also limit the use of low-documentation underwriting for ...