Freddie Mac extended the effective date of the revised HOME Possible mortgage requirements (previously announced in Bulletin 2019-07). Bulletin 2019-07 revised Home Possible mortgage requirements to state that occupying borrowers may not have an ownership interest in more than 2 financed residential properties (including the property being mortgaged) as of the note date (or as of the effective date of permanent financing for construction conversion and renovation mortgages). This requirement now applies to mortgage loans with settlement dates on or after September 16, 2019 (rather than mortgage loans with settlement dates on or after July 3, 2019).
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
