Fannie Mae – which has recovered billions of dollars in damages from mortgage bankers on buyback requests – is cutting down on due diligence reviews, trimming the workloads of vendors that play in that space, industry advisors told ASR sister publication National Mortgage News (NMN).

One source familiar with the matter noted, “To my knowledge, they have not cut vendors,” cautioning that the cutback “is causing all of the reviewers to reduce and reallocate staff.”

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