Freddie Mac Issued Bulletin 2016-20 (Bulletin) updating the Selling Guide. The Bulletin: establishes property eligibility requirements, and updates underwriting requirements, with respect to loans secured by property with solar panels; prohibits the consideration of “trended credit data” when manually underwriting a loan; reorganizes and reformats requirements relating to a living trust borrower; requires all monthly lease payments be included in the monthly debt payment-to-income ratio (as opposed to car lease payments only); updates the Agreement for Concurrent Transfer of Servicing of Single-Family Mortgages form (Guide Form 960); amends section 7101.2 of the Selling Guide (regarding requests for a transfer of servicing) to align with operational practices; revises Guide Forms 15, 15A and 15C in the Freddie Mac Selling System; and updates Exhibit 4 and 5 with respect to uniform instruments.
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
