Freddie Mac issued Bulletin 2018-21 (Bulletin), introducing the GreenCHOICE mortgage for energy and water efficiency home improvements. The GreenCHOICE mortgage provides flexibility to finance the costs of energy and water efficiency improvements using the proceeds from a “no-cash out” or purchase transaction. The GreenCHOICE mortgage can be applied to most mortgage products and any property type eligible under the Single-Family Seller/Servicer Guide. Freddie Mac also updated requirements for condominium project and unit owner flood insurance, and updated requirements with respect to the collection of insurance policy premiums for condominium projects located in Puerto Rico. The GreenCHOICE mortgage is effective for mortgages with settlement dates on and after May 1, 2019. All other changes are effective immediately.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
