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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Enterprises to purchase qualified loans in forbearance

The Federal Housing Finance Agency (FHFA) has announced its approval of the purchase by Fannie Mae and Freddie Mac (the Enterprises) of certain single-family mortgages in forbearance that meet specific eligibility criteria. Due to the COVID-19 pandemic, some borrowers have sought payment forbearance shortly after closing on their single-family loan and before the lender could deliver the mortgage loan to the Enterprises.

Mortgage loans either in forbearance or delinquent are normally ineligible for delivery under Enterprise requirements. However, yesterday's action lifts that restriction for a limited period of time and only for mortgages meeting certain eligibility criteria. Eligible loans will also be priced to mitigate the heightened risk of loss to the Enterprises from these purchases. These prudential measures also ensure fulfillment of the Enterprises' charter requirements to only purchase loans that meet the purchase standards imposed by private, institutional mortgage investors.

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