Freddie Mac Launches Second Mortgage Pilot: What Lenders Need to Know - Legislative Update by Alice Alvey
Episode description
Freddie Mac has launched a pilot program for closed-end second mortgages with specific conditions, while the FHA has issued a draft mortgagee letter emphasizing lender responsibility for third-party origination fraud, urging lenders to strengthen their fraud detection and prevention measures.
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Alice Alvey, Master CMB
Vice President Partner Education and Training at Union Home Mortgage
She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.
Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.
She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.
Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!