Freddie Mac issued Bulletin 2021-21 announcing a cap structure on the sale of mortgages secured by second home and investment properties. Per the Bulletin, for the month of July 2021, the unpaid principal balance of mortgages secured by second homes and/or investment properties sold to Freddie Mac may not exceed 6.5% of the total unpaid principal balance for all mortgages sold to Freddie Mac during that month. After July, the unpaid principal balance of mortgages secured by second homes and/or investment properties sold to Freddie Mac may not exceed 6% of the total unpaid principal balance for all mortgages sold to Freddie Mac during that month. The cap structure only applies if a lender sells more than 5 mortgages secured by second homes and/or investment properties to Freddie Mac during the month. The cap structure applies to mortgages that have settlement dates on or after July 1, 2021.
Click to view the Freddie Mac Guide Bulletin 2021-21: https://www.tenaco.com/wp-content/uploads/2021/06/Freddie-Mac-Guide-Bulletin-2021-21-06-07-21.pdf
