Freddie Mac, the 2nd largest mortgage lending company, has just announced they will be offering new mortgage products through the world wide web this summer. The programs include Home Possible, a program that is designed for borrowers who need assistance, and over 20 other mortgage programs.
The company’s Loan Prospector automated underwriting service and its online selling system will include a new array of 40-year mortgages, 20 more adjustable-rate mortgage (ARM) products and federally insured rural housing mortgage products, the company said.
It is also expanding its flagship suite of affordable mortgage products, known as Home Possible, by adding a special 40-year fixed-rate option and providing lenders with more competitive selling options.
The enhancements, to be rolled out this summer, were announced at the Mortgage Bankers Association’s National Secondary Conference and Expo in Chicago.
