Freddie Mac issued Guide Bulletin 2016-12 (Bulletin). The Bulletin: revises ARM notes and riders to include new language imposing a lifetime floor equal to the ARM’s margin; consolidates certain technology licenses for Freddie Mac tools and systems into a master systems license; replaces references to Loan Prospector with Loan Product Advisor; updates the Guide glossary to include a definition for “Servicing Tool”; eliminates the requirement that sellers obtain a signed borrower consent form authorizing the release of the borrower’s information to a counseling agency in the event of a delinquency; updates Loan Prospector and the Affordable Income and Property Eligibility tool with the 2016 area median income estimates issued by the Federal Housing Finance Agency; and amends the Wisconsin security instrument.
FHA
FHA Extends Compliance Date for Portions of the Modernization of Engagement with Mortgagors in Default Final Rule
FHA extended the compliance date for portions of the Modernization of Engagement with Mortgagors in Default Final Rule. In August, 2024, FHA adopted the Modernization
November 25, 2024
