Prospective changes to GMAC’s correspondent lending program aren’t expected to amount to a hill of beans, according to the company.
The updates are coming to its 3-D program, which provides rapid Fannie Mae delivery for larger correspondents, the company told MortgageDaily.com in a written statement.
But the changes don’t signal a change in strategy.
“Any adjustments to the 3-D guidelines under consideration are not expected to significantly change the activities of the 3-D program or GMAC’s correspondent activities,” the statement said.
GMAC added that it continues to invest in its correspondent programs and highlighted its September 2009 launch of a correspondent community bank team to meet the liquidity and servicing needs of community-based banks, thrifts and trusts.