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Enterprise Endnotes

December 6, 2013
Freddie Rescinds Fraud Training Requirement. Freddie Mac has withdrawn a requirement announced in September mandating fraud training in Bulletin 2013-13, issued Nov. 15. Freddie had required that seller/servicers provide third-party vendors retained to perform functions relating to origination and servicing of mortgages with training on fraud prevention, detection and reporting. The GSE decided to revisit the issue. In addition, the bulletin updates payment history verification requirements for manually underwritten mortgages, and announces that eligibility requirements applicable to higher-priced mortgage loans, previously announced in August, are applicable to higher-priced covered transactions (as defined in the Consumer Financial Protection Bureau’s ability-to-repay/qualified mortgage rule) and not solely to HPMLs.
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