The Federal Housing Finance Agency is seeking feedback on proposed new product offerings from Freddie Mac. Freddie’s offering would involve the purchase of certain single-family closed-end second mortgages as an alternative for homeowners to access equity. Freddie Mac’s new offering would allow for the purchase of closed-end second mortgages for properties where it already holds the first mortgage.
ICBA has continued to stress that the FHFA’s focus should be on preparing the government-sponsored enterprises to exit conservatorship rather than diverting funds to launch a new product. ICBA plans to take up the issue with the Housing Committee and submit a comment letter on the proposal.
