The MOVE Act requires Fannie Mae and Freddie Mac to purchase and securitize portable mortgages.
The MOVE Act mandates the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to start buying and securitizing portable mortgages within 180 days of the act's enactment. A portable mortgage allows the mortgagor to transfer the interest rate, terms, and balance to a new property within 90 days of selling the original property. This provision aims to make homeownership more flexible and viable for everyone.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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