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Freddie Mac / Fannie Mae 710 Form: What You Should Know

If you were issued a Form 710, you can obtain your copy on-line or faxed to. If you are unable to obtain your copy on-line, you can receive your copy by calling the Fannie Mae/ Freddie Mac Borrower Assistance Help Desk at ; or your local U.S. Postal Service post office. It is important to contact your local post office immediately to obtain your copy.   What is a Borrower Identification Number Form 710 is a written application to mortgage lenders to determine whether a loan underwriting or loan product will be approved (not all products are approved all the time). The Borrower Identification Number (BIN) is a 9-digit, unique number associated with each consumer loan or product in the HUD-1 database (see HUD-1:1.8.1.4). When the Borrower Identification Number (BIN) is provided, the loan's lender will require the borrower to submit additional information, such as the type, size, and location of the loan or loan product; the name of the lender, origination lender, and/or underwriting lender; the borrower's current address; and the borrower's Social Security number if requested by the lender or underwriting lender. If you submitted a BIN, you'll still have the option to complete a HUD Report if you are using some other form of assistance or if you prefer not to disclose your BIN. HUD Report Frequently Asked Questions How do I obtain a copy of Form 710? To request a copy of Form 710, you will need an acceptable form of identification, such as a driver's license, passports, or a current utility bill. It is not acceptable for you to submit a paper copy of Form 710 in lieu of an identified form of identification; however, a printed copy of a form of identification issued by a State or political subdivision is acceptable as long as a copy of that original or a close facsimile of that original is attached to the request for access to Form 710. Once your Form 710 is received by FIFA or your loan servicing company, they will send you a HUD Report once a week for a two-month period.

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Instructions and Help about Freddie Mac / Fannie Mae 710

It's paddock ocean marketplace today. - I want to talk about the decision by the Federal Reserve to stop buying mortgage-backed securities created by Fannie Mae and Freddie Mac. - This decision is important for individual homeowners because there is a concern that interest rates on home loans may rise. - Many people have written to us asking for an explanation of how this works. - People here at marketplace have also asked for an explanation. - Let me see if I can give it a shot with an analogy using a car factory. - Here's our car factory, F&F's car factory. - Fannie and Freddie make cars in this factory. - They need steel as a raw material for car production. - They get the steel from a steel manufacturer. - Mr. Steel is the steel maker who provides the steel. - The steel goes into the factory, some magic happens inside, and cars are produced. - The end result is a car, like a Model T looking thing. - The economy of this car factory works based on demand for the cars. - More buyers mean more demand for cars, which means Fannie and Freddie will need more steel from Mr. Steel. - Rising demand for cars leads to rising demand for steel. - On the other hand, if there is falling demand for cars, the demand for steel will decrease. - How does this relate to mortgage rates and mortgage-backed securities? - Let's not change the details of the analogy. - (Incomplete sentence.