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Category: Loan Resources

Freddie Mac receives largest-ever insurance policy

Category | Correspondent Lenders | Correspondent Lending News | Financial Regulations | Impac Mortgage Announcements | Loan Resources
Freddie Mac recently received its largest insurance policy ever. In a recent press release, Freddie Mac revealed that it has acquired an insurance policy worth more than half a billion dollars, making it the largest insurance policy the corporation has ever received. This policy brings the total insurance coverage Freddie Mac has obtained this year to about $2.2 billion. It was only about a month ago that Freddie Mac received its previous "largest insurance policy ever," which also reached over half a billion dollars and transferred a substantial amoun
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What’s ahead for the housing market in 2016

Category | Correspondent Lenders | Correspondent Lending News | Financial Regulations | Impac Mortgage Announcements | Loan Resources
The housing market continues to lack young, first-time buyers

In mid-November, the National Association of Realtors gathered for a conference in San Diego to discuss where the housing market is headed in 2016. Economists discussed both the advantages and limitations that a buyer or mortgage investor could face in the upcoming year. The major takeaway: Despite growing concerns for rising property costs, home sales are expected to continue rising, albeit more slowly, in 2016. 

The forecast The star of the conference seems to have be
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Non-bank lenders are the key to mortgage availability

Category | Loan Resources
Non-bank lenders are the key to mortgage availability The housing market is recovering across the country, but traditional banks aren't supplying everyone with the mortgages they need to buy the houses of their dreams. Non-bank lenders, such as Impac Mortgage Corp. Correspondent, have emerged as a solution to overly stifling lending requirements enacted by the big banks following the financial crisis. Mortgage availability from traditional organizations is unlikely to expand in the near future, which means alternative lending options will continue
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Minimum qualifications to become a FNMA seller

Category | Loan Resources
Minimum qualifcations to become a FNMA seller FNMA requirements The first few qualifications for these mortgages relate to an issuer's identity as a company. Its principal operations must be the selling, origination and/or servicing of residential home loans for a minimum of two years. Furthermore, it must prove that it can sell, originate or service the types of FNMA loans for which it is seeking approval and that it has the staff and facilities to do so. Issuers must be properly licensed or otherwise authorized to service and in good sta
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