Fannie Mae and Freddie Mac want perfection. Mortgage lenders want relief. Technology could help both sides get what they want.
The government-sponsored enterprises are increasingly pushing lenders to deliver loans without any defects—which can range from missing documents to misrepresented assets. Lenders complain that a zero-defect standard is unrealistic and are pushing back, asking Fannie and Freddie to lighten up on the requests to buy back problem loans.