Fannie Mae and Freddie Mac announced Thursday they’ve revised their representation and warranty framework. The move has been made in an effort to reduce concerns among lenders about the risk on buying back loans sold to the two federally backed mortgage finance agencies.

Mortgage professionals have said such concerns have been blamed for lenders being reluctant to make more loans, thus dragging down housing and the U.S. economy as a whole.

Reuters  also tells MHProNews  that according to Andrew Bon Salle, Fannie Mae’s executive vice president of single-family underwriting, pricing and capital markets,”There are qualified borrowers who are not being served in today’s market. With this clarity, lenders should have greater confidence in lending to Fannie Mae’s full credit standards and making mortgages available to more borrowers.”

Manufactured housing can qualify for conventional mortgages on ‘land home’ (fee simple) loans. Reforms being explored by Congress and by Secretary Julian Castro at HUD could lead to more lending on manufactured homes in the foreseeable future, based on plans in process.

Seeking Alpha says that, “Fannie (OTCQB:FNMA) says it can now only seek a mortgage repurchase if it determines the failure to comply would undermine its rights on the loan, result in a liability for the company or if the lender violated a consumer protection law or regulation. Freddie (OTCQB:FMCC) has made similar changes.”

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(Image credit: Fannie Mae and Freddie Mac Logos)