GSEs Launch Independent Dispute-Resolution Process As Final Determination on Loan Eligibility Disputes
February 4, 2016
Fannie Mae and Freddie Mac this week announced the final piece of a multiyear process to relieve seller anxiety about potential buybacks, an independent dispute-resolution process for the most difficult to resolve repurchase demands. As a last resort, the new IDR process may not see that much activity, especially since seller repurchases of government-sponsored enterprise mortgages have been declining sharply. For a buyback dispute to get to a final determination by a third-party arbitrator, it will have to go through three normal steps in the buyback process. The IDR process began...[Includes one data table]
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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