Lending transparency: Freddie Mac improves access to information

Lending transparency: Freddie Mac improves access to information

Freddie Mac took a giant step toward transparency last week when it announced sweeping changes to its condominium and housing cooperative financing system. The government-sponsored enterprise that underwrites mortgages is introducing a tool that indicates whether a community is “certified” for financing or “not eligible”—and providing guidance that explains why a community may not be eligible.

Condominium blacklists: Secretive lending questionnaires impacting affordable housing

Condominium blacklists: Secretive lending questionnaires impacting affordable housing

Fannie Mae and Freddie Mac are compiling troubling blacklists that prohibit mortgage financing for entire condominium or housing cooperative buildings. As the blacklists grow, community managers and board members have no knowledge their buildings are on them. When people are unable to buy and sell units in these buildings, property values may be affected.

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