In keeping with its mission to make homeownership more affordable, Freddie Mac has launched a new program, All For Home, that includes the development of additional lending and down-payment solutions geared for first-time homebuyers, manufactured housing, energy efficiency properties, and for very low- to moderate-income borrowers.
The new program has an education component wherein Freddie Mac will host community-based homeownership education and outreach events, lender and real estate professional trainings, and help housing counselors to reach and inform audiences such as millennials, women, veterans, people with disabilities, senior citizens and very low- to moderate-income borrowers.
For participating mortgage lenders the new program provides research and data on the affordable lending market and access to Freddie Mac’s Borrower of the Future resource, which offers thought leadership and industry perspectives on the future of homeownership.
Lenders participating in the program will, of course, have access to a tailored suite of supporting software applications including Loan Product Advisor, Automated Collateral Evaluation, Asset and Income Modeler (including AIM for self-employed borrowers), Home Possible Sweat Equity offerings, rural offerings (such as NextJob, Servicing-Released XChange), and Freddie Automated Servicing Transfer.
“For nearly 50 years, Freddie Mac has been making home possible for millions of people who wish to purchase a home,” says Danny Gardner, senior vice president of single-family affordable lending and access to credit at Freddie Mac, in a release. “Our All For Home effort spotlights Freddie Mac’s leadership in support of its affordable mission and looks beyond today to build the future of home by facilitating better lender and partner collaboration to reduce barriers for those seeking homeownership.”