Freddie Mac
-
Freddie Mac Updates Selling and Servicing Rules
February 17, 2015 Freddie Mac issued Bulletin 2015-2: Selling and Servicing. This Single-Family Seller/Servicer Guide (“Guide”) Bulletin announces: Selling and Servicing topics Updates to Guide Forms 16SF, Annual Eligibility Certification Report, and 1107SF, Seller/Servicer Change Notification Form, to help Freddie Mac better understand its Seller/Servicers• A new requirement that Seller/Servicers review the Federal Housing Finance Agency […]
-
Freddie Mac Launches 3 Percent Down Payment Mortgages
by Anna DeSimone, President December 8, 2014, Freddie Mac launched Home Possible Advantage, an affordable conforming, conventional mortgage with a three percent down payment requirement designed to make responsible homeownership accessible to more first-time buyers and other qualified borrowers with limited down payment savings.In an effort to increase access to mortgage credit, this Single-Family Seller/Servicer […]
-
Freddie Mac Revises Miscellaneous Eligibility and Property Requirements
by Anna DeSimone October 15, 2014, Freddie Mac issued Bulletin 2014-18: Selling Updates. This Single-Family Seller/Servicer Guide (“Guide”) Bulletin announces: Revisions to Freddie Mac’s Mortgage eligibility and credit underwriting requirements to:1. Update Freddie Mac’s Home Possible® Mortgages offering2. Update eligibility requirements and provide guidance applicable to Higher-Priced Covered Transactions (HPCTs) and Higher-Priced Mortgage Loans (HPMLs)3. […]
-
Freddie Mac Updates Third Party Verifications
by Anna DeSimone, PresidentOctober 15, 2014, Freddie Mac Issued October 15, 2014, Freddie Mac issued Bulletin 2014-18: Selling Updates. This Single-Family Seller/Servicer Guide (“Guide”) Bulletin announced a range of updates that are itemized in another Compliance Monitor newsletter. Outlined below are the Freddie Mac Selling Guide changes: 37.20: General requirements for verifying documents (10/15/14) To […]
-
Freddie Mac Updates Selling Representation and Warranty Framework
by: Anna DeSimoneMay 12, 2014, Freddie Mac, jointly with Fannie Mae and at the direction of the Federal Housing Finance Agency, announced in Single Family Seller/Service Bulletin 2014-8 that it is making a number of significant enhancements to the selling representation and warranty framework introduced in 2012. These changes, including revisions related to how a […]
-
Freddie Mac Issues Clarifications and Guidance for Rural Markets
by: Anna DeSimoneApril 1, 2014, Freddie Mac Issued Bulletin 2014-5: Properties Located in Rural Market Areas. The bulletin highlights Freddie Mac’s property and appraisal requirements and was issued in response to a Federal Housing Finance Agency directive to Freddie Mac to provide certain clarifications and guidance regarding property and appraisal requirements for properties located in […]
-
Freddie Mac Updates Selling and Servicing Guides
by: Anna DeSimoneFebruary 14, 2014 Freddie Mac issued Bulletin 2014-2: Selling and Servicing. Key contents of the bulletin are provided below: Effective Date. All of the changes announced in the Bulletin are effective immediately unless otherwise noted. Revisions to the Guide. The revisions included in the Bulletin impact the following: Chapters 2, 6, 17, 22, […]
-
FHFA Announces Overhaul of Fannie Mae and Freddie Mac Mortgage Insurance Master Policy Requirements
by: Anna DeSimoneDecember 2, 2013 the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac have completed the first major overhaul of mortgage insurance master policy requirements in many years. FHFA’s 2013 Conservatorship Scorecard calls for Fannie Mae and Freddie Mac to develop aligned requirements for master policies. Through this ongoing effort, […]
-
Freddie Mac Addresses Ability to Repay, Quality Control and Other Rules
by: Anna DeSimoneOctober 1, 2013, Freddie Mac issued an Industry Letter Information Relating to the CFPB Final Rule on Ability to Repay. On August 20, 2013, Freddie Mac issued Single-Family Seller/Servicer Guide Bulletin 2013-16, which announced its new purchase eligibility requirements in response to the final rule issued by the Consumer Financial Protection Bureau (CFPB) […]
-
Freddie Mac Issues New Mortgage Eligibility Criteria
by: Anna DeSimoneJuly 2, 2013, Freddie Mac issued Industry Letter 2013-06 to all Freddie Mac Sellers entitled “Freddie Mac’s New Mortgage Eligibility Criteria.”On May 6, 2013, Freddie Mac issued an Industry Letter notifying Sellers of revised requirements as a result of the Consumer Financial Protection Bureau’s (CFPB) final rule on ability to repay and qualified […]