The Federal Housing Finance Agency (FHFA) announced yesterday that Fannie Mae and Freddie Mac are changing their loan purchasing rules to establish an independent third-party review process for loans that trigger a repurchase request due to perceived violations of the government-sponsored enterprises' representation and warranty framework, HousingWire.com reported today. The FHFA, Fannie Mae and Freddie Mac announced yesterday that they are implementing an independent dispute resolution process for resolving repurchase disputes, completing the planned scope for the selling representation and warranty framework. The new process allows lenders to submit unresolved loan-level disputes to a neutral third party arbitrator after the appeal and escalation processes have been exhausted, the FHFA said.
