Freddie Mac late Friday announced a warehouse lending pilot program to supply participating companies with standby commitments to buy qualifying loans in the event sellers or servicers cannot meet funding obligations or fail.

A source close to the situation said Freddie has been operating a version of the program since June. The warehouse provider participating in this test is NattyMac LLC. Freddie said prefunding reviews are required. Fannie Mae is working on a similar program.

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