Corporation has announced new approach to affordable lending
Freddie Mac has announced a new approach to boost single-family affordable lending through thought leadership, education, mortgage offerings, and more.
Called ‘All For Home’, the approach aims to drive industry change and perception to enable mortgage lenders connect with more people who want to own their own home.
“For nearly 50 years, Freddie Mac has been making home possible for millions of people who wish to purchase a home,” said Danny Gardner, Senior Vice President of Single-Family Affordable Lending and Access to Credit at Freddie Mac. “Our All For Home effort spotlights Freddie Mac’s leadership in support of its affordable mission and looks beyond today to build the future of home by facilitating better lender and partner collaboration to reduce barriers for those seeking homeownership.”
Four pillars
Freddie Mac is focusing its All For Home initiative on four pillars:
- Insights: Provide best-in-class research and data on the affordable lending market and the Borrower of the FutureSM customer base. The results will be used to advance thought leadership and industry perspectives on the future of homeownership;
- Education: Host community-based homeownership education and outreach events, lender and real estate professional trainings, and help housing counselors to reach and inform audiences such as millennials, women, veterans, people with disabilities, senior citizens and very low- to moderate-income borrowers;
- Mortgage Offerings: Develop additional lending and down-payment solutions for first-time homebuyers, manufactured housing, energy efficiency properties, and for very low- to moderate-income borrowers;
- Business Solutions: Provide lenders with expanded opportunities to enable technology-driven lending processing services including Loan Product Advisor®, Automated Collateral Evaluation, Asset and Income Modeler including AIM for self-employed borrowers, Home Possible Sweat Equity offerings, rural offerings such as NextJob, Servicing-Released XChange℠, and Freddie Automated Servicing Transfer℠.
The corporation will be launching more affordable lending options in the coming months along with education programs; both will be intended to drive industry dialogue around making homeownership accessible for borrowers.
“Through collaboration and partnership, we are working to develop and enhance solutions and technologies that allow our partners to confidently, swiftly and easily help more people achieve the dream of homeownership,” Gardner added. “There is power in anticipating future homeownership needs so that, together, our partners and lenders can make a positive impact.”
