Freddie Mac, Quicken Loans Partner To Achieve Greater Homeownership Goals

Freddie Mac and Quicken Loans have formed a partnership to launch several new initiatives designed to give more Americans the opportunity to achieve homeownership and to construct a better American mortgage finance system.

This partnership was announced at the Mortgage Bankers Association's 102nd Annual Convention and Expo in San Diego.

According to the announcement, the program will feature co-developed products to meet the needs of emerging markets, including millennials, first-time home buyers and middle-class borrowers. Further, it will explore modifications and expansions to Freddie Mac's current Home Possible mortgage products and will provide ongoing education for homeowners.

‘The partnership has a simple goal,’ says Dave Lowman, executive vice president of the single-family division at Freddie Mac. ‘We are leveraging our unique strengths to explore simple straightforward approaches to mortgage products, technology and borrower outreach strategies. We then hope to use the results from these efforts to make it easier for all of our customers, and the industry, to make successful homeownership possible for a wider range of qualified borrowers.’


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