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.
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
