Freddie Mac issued Bulletin 2025-3 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:
- Expanded requirements for age of the questionnaire submitted for the Project Certified Submission (PCS) process in Condo Project Advisor (CPA) to allow lender full review questionnaires to be dated within 180 days of the PCS request date (previously 120 days);
- Updated the notes applicable to the Universal Loan Identifier (ULI), to inform lenders to deliver the ULI if required pursuant to HMDA Reporting and available at loan delivery;
- Refactored chapters 4101 (Uniform Instruments), 4204 (Secondary Financing and Other Financing Arrangements), 4502 (Affordable Housing Preservation: Shared Equity Programs – Community Land Trusts), 4504 (HeritageOne Mortgages), 4601 (Financed Permanent Buydown Mortgages), 5301 (General Requirements for All Stable Monthly Income and Asset Qualification Sources), 5701 (Condominiums), 5705 (Cooperative Projects and Cooperative Share Loans), 5901 (Automated Income Assessment with Loan Product Advisor Using Employed Income Data), 5903 (Automated Income Assessment with Loan Product Advisor Using Tax Data) and 5904 (Automated Income Assessment with Loan Product Advisor Using Account Data); and
- Relocated chapters 5901 (Automated Income Assessment with Loan Product Advisor Using Employed Income Data), 5903 (Automated Income Assessment with Loan Product Advisor Using Tax Data) and 5904 (Automated Income Assessment with Loan Product Advisor Using Account Data) to sections 5303.4, 5303.5, 5304.2 and 5305.3.
Revisions related to the age of the questionnaire submitted for the PCS process are effective March 31, 2025 (lenders may, however, implement the changes sooner). Revisions related to updated notes applicable to the ULI are effective July 28, 2025. All other revisions went into effect March 10, 2025.
Click to view the Freddie Mac Guide Bulletin 2025-3: https://www.tenaco.com/wp-content/uploads/2025/03/Freddie-Mac-Guide-Bulletin-2025-3-03-05-25.pdf
