Skip to main content

Freddie Mac's First Look gives homebuyers 15 days to buy without investor competition

Sep 15, 2010

Freddie Mac  has announced that it is expanding the Freddie Mac First Look Initiative on Sept. 17, 2010 so that any home shopper can buy a HomeSteps home as their primary residence during the first 15 days of the property's listing without competition from investors. HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes. The Freddie Mac First Look Initiative supports Freddie Mac's mission to stabilize communities and foster affordable homeownership opportunities by giving homebuyers 15 days to buy a HomeSteps home as their primary residence without investor competition. "The Freddie Mac First Look Initiative will provide America's home shoppers with an exceptional new opportunity to buy affordable homes to live in at a time when mortgage rates are at a 50-year low," said Chris Bowden, vice president, HomeSteps. "Expanding the Freddie Mac First Look Initiative emphasizes Freddie Mac's commitment to manage its REO inventory to help stabilize communities, foster affordable homeownership opportunities, and responsibly safeguard tax dollars." This announcement builds on the national First Look effort the U.S. Department of Housing & Urban Development (HUD) and National Community Stabilization Trust (NCST) launched on Sept. 1, 2010 to provide an exclusive 12-day window to owner-occupant buyers working with Neighborhood Stabilization Programs (NSP) grantees non-profits working with NCST. For more information, visit www.freddiemac.com.  
About the author
Published
Sep 15, 2010
The Sale, The Risk & The Trend

The chronicles of Norcom Mortgage

Jul 08, 2024
A Reading From The Book Of Kyle

A Texas coach and former pastor felt a calling, spawning a best-selling how-to for loan officers

Jul 08, 2024
Mortgage Applications Increase Slightly In Latest Survey

Applications increased 0.8% from one week earlier.

Jun 26, 2024
FHFA Approves Freddie Mac's Second Mortgage Pilot

The GSE's limited program will permit cost-effective cash-out refinances

Jun 24, 2024
Former Rocket Mortgage SVP Turned UWM Broker Partner

Zoom Home Lending, headed by former Rocket Mortgage executives, partner with their old wholesale rival, UWM

Jun 20, 2024
Potential For Declining Rates This Summer, Following CPI Report

Norada Real Estate Investments said "rates likely to decline" after the latest CPI report.

Jun 17, 2024