Freddie Mac’s head of single-family acquisitions, Sonu Mittal, has announced a new proposed product that is positioned as an alternative to cash-out refinances. This innovative offering aims to provide homeowners with more flexible options for accessing their home equity without the need to go through a traditional refinance process.

Key points:
– Freddie Mac is introducing a new product in the single-family acquisitions department
– The product is designed to serve as an alternative to cash-out refinances
– Homeowners will have more flexibility in accessing their home equity without traditional refinancing
– Sonu Mittal, the head of single-family acquisitions at Freddie Mac, is leading the development of this new offering
– The proposed product is expected to provide homeowners with a more streamlined and efficient way to leverage their home equity.

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