Experts: Detailed Quality Control, Net Worth Minimums Critical for GSE Seller Applicants
April 19, 2013
Expect quality control to be the single most critical component at the top of a long list of requirements for prospective lenders seeking to do business with Fannie Mae and Freddie Mac, according to agency officials and experts during an Inside Mortgage Finance webinar this week. The two government-sponsored enterprises are ready, willing and able to do business with new seller/servicer partners, if they are prepared to demonstrate, in a transparent and painstaking way, they are an opportunity to Fannie or Freddie and not a risk, National Union Mortgage President and CEO Bill Cosgrove told webinar attendees. Its really all about quality control. Every area of your organization has to be...