Banking Law Bulletin
Yesterday, Freddie Mac issued a temporary guidance to lenders designed to minimize disruption to the mortgage market during the temporary federal shutdown that began on October 1, 2013. The changes were announced in Guide Bulletin 2013-19 and are effective today (October 8, 2013). These temporary requirements supersede any other temporary guidance previously announced relating to Freddie Mac and the shutdown. The guidance will terminate automatically when the federal government reopens. The guidance can be found at www.freddiemac.com under Business Resources - Single Family News Center. You are urged to review the guidance and the details set out therein.
Some of the highlights thereof are as follows:
The foregoing is not intended to be legal advice, but rather, to provide accurate information regarding banking law and regulatory matters. For more information regarding any of the foregoing items, please contact any member of our banking practice group: Dennis W. Gorman (email@example.com), William G. Keller, Jr. (firstname.lastname@example.org), James A. Rapp (email@example.com), William M. McCleery, Jr. (firstname.lastname@example.org), Ted M. Niemann (email@example.com), Michael A. Bickhaus (firstname.lastname@example.org) or Andrew K. Cashman (email@example.com), at (217) 223-3030 or visit us on the web at www.srnm.com. We invite and welcome all questions and comments.
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