What does it mean that Freddie Mac and Fannie Mae are “working together”?
The Federal Housing Finance Agency (FHFA) has directed the GSEs to collect additional data about loans delivered to us, and to work together, with FHFA’s guidance, to create a common approach, protocol, and dataset for the capture of electronic appraisal and other loan delivery data. This requirement is consistent with other mandates that FHFA, in its role as the GSEs’ regulator, has issued in the past, such as the capture of additional loan data fields in support of the S.A.F.E. Act (also known as Title V). In this digital age, data standards are crucial to improving quality and operational efficiencies for the industry. This effort complements previous collaborations between Freddie Mac and Fannie Mae on uniform residential mortgage forms and similar efforts. Working together, Freddie Mac and Fannie Mae created a common approach that enables both GSEs to better capture consistent and accurate data for the loans that are submitted for purchase and/or securitization. FHFA has made clea
