What is a repurchase request?
A repurchase request requires the lender to buy back a loan from Freddie Mac due to serious defects. These defects may include missing documents, inaccurate data, misrepresentation, or underwriting errors. Repurchase ensures Freddie Mac is protected from financial risk.
Related FAQs
- What is a servicing claim?
- Why do servicing defects lead to claims?
- What is a repurchase alternative agreement?
- Can lenders negotiate repurchase terms?
- What is a repurchase demand?
- Why do some defects require repurchase?
- What is a repurchase review?
- What happens after a loan is repurchased?
- Why does Freddie Mac require repurchase or indemnification?
- What is a repurchase alternative?
- Can lenders appeal repurchase decisions?
- Can borrowers be affected by repurchase?
- How long do lenders have to respond to repurchase requests?
- What is a cure in the repurchase process?
- Can servicing defects lead to financial claims?
- What is a servicing defect?
- What types of defects trigger repurchase?
- Why would Freddie Mac require a loan repurchase?
- How does Freddie Mac identify loan defects?
- What is a Claims Event?
- What is indemnification?
- Can repurchase be avoided?