Freddie Mac Hails FHFA Announcement of Uniform Mortgage Data Program
MCLEAN, Va., May 24 /PRNewswire-FirstCall/ -- Freddie Mac Chief Executive Officer Charles E. Haldeman, Jr. made the following statement in response to the Federal Housing Finance Agency's (FHFA) announcement of the Uniform Mortgage Data Program:
"We applaud FHFA on this important effort to improve appraisal and loan data quality. The importance of data quality to the mortgage market's long-term success makes this the right call at the right time. The additional loan and appraisal data requirements, standard data definitions, and a common framework for capturing these new data sets will support the mortgage industry's efforts to manage risk, reduce costs, and respond more efficiently to market changes.
"We look forward to working closely with FHFA and Fannie Mae on this important effort to improve appraisal and loan data quality and help make homeownership opportunities more sustainable through various market cycles.
"We will keep our customers well informed of our progress to ensure that they have sufficient time to adapt to the new data standards."
See http://www.FreddieMac.com/sell/secmktg/uniform_mortgage.html for more information about the Uniform Mortgage Data Program.
Freddie Mac (NYSE: FRE) was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. For more information, visit www.FreddieMac.com.
SOURCE Freddie Mac
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