Freddie Mac encourages lenders to pass savings on to customers
MCLEAN, VA., May 15, 2025 (GLOBE NEWSWIRE) --
Freddie Mac (OTCQB: FMCC) today announced automations to its underwriting to further reduce costs, create greater efficiency and improve the origination process for both borrowers and lenders.
Utilizing machine learning, this new technology is included in
Loan Product Advisor® (LPA®) effective today, as the company is greenlighting on-hold innovation, cost reduction and delighting the customer as a result of the mandate to use technology from U.S. Federal Housing FHFA Director and Chairman of Freddie Mac’s Board of Directors, William J. Pulte.
“It’s the year 2025, and the time to streamline the homebuying experience is now. Under the leadership and guidance of Director Pulte, we expedited this version of LPA® to increase efficiency and further lower costs,” said Sonu Mittal, Freddie Mac’s Executive Vice President and Head of Single-Family Acquisitions.
“After the last 4 years of astronomical inflation, it is important that we lower costs any way we can, and we encourage lenders to use this technology to pass savings onto customers, effective immediately,”
said William J. Pulte, Chairman of Freddie Mac.
Today’s update also drives cost savings through a wide range of additional enhancements, including early insights on the
automated collateral evaluation (ACE) waivers that have already saved families more than $2 billion in appraisal costs since 2017.
freddie is not friend of the independent appraiser...i should of voted for kamala
