Freddie Mac issued Bulletin 2016-06 (Bulletin). This Bulletin: eliminates certain insurance coverage requirements for condominium projects that are reviewed under the streamlined project review type, PUDs and fee simple landowners/lessors of ground lease communities; specifies other insurance coverage requirements for condominium projects and PUDs; revises the reporting processes for quality control, fraud, suspected fraud or other Suspicious Activity findings; updates the Glossary definition of REO to move the statement regarding what REO includes for purposes of calculating fidelity and mortgagee’s errors and omissions insurance coverage; updates Guide Exhibits 4 and 5 to reflect updated Pennsylvania State-specific Uniform Instruments; updates the Note for ULDD Data Point Per Change Rate Adjustment Effective Date (Sort ID 123) to refer to the correct Glossary term; and updates cross-references in Guide Forms 16SF and 1107SF to reflect the new locations in the reorganized Guide.
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
