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  • Comment Detail

  • Date: 05/17/24
    First Name: Forrest
    Last Name: Cambell
    Organization: N/A
    City: Capitola
    State: N/A
    Attachment: N/A
    Number: 2024-N-5

  • Comment

    I support Freddie Mac to provide closed end seconds. This will provide homeowners with the ability to responsibly access equity in their home. Freddie Mac offering this will provide greater liquidity in the marketplace and increase competition amongst lenders, resulting in homeowners having more options. Most closed end seconds have very high interest rates, as regional banks must anticipate future interest rates and charge accordingly. Consumers are often only left with adjustable equity line products that can surprise them with dramatic rate swings. Freddie Mac's ability to securitize this product will drive down costs for consumers. My only criticism is why has it taken this long? Looking forward to this option.