Freddie Mac issued Bulletin 2018-18 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide (Guide). Per the Bulletin, Freddie Mac added a new chapter related to the eligibility and origination of mortgages secured by properties affected by a disaster. Freddie Mac also revised requirements for condominium projects, updated flexibilities for condominium project reviews, and amended the Guide in preparation for the availability of Freddie Mac Condo Project Advisor (available by request on or after November 5, 2018). In addition, Freddie Mac made enhancements to Loan Collateral Advisor that will create appraisal review efficiencies, increase eligibility rates for representation and warranty relief for property value only and extend value representation and warranty relief for mortgages secured by condominium units. Enhancements to Loan Collateral Advisor are effective October 31, 2018. The new chapter is effective November 19, 2018. Updated flexibilities for condominium project reviews are effective for mortgages with settlement dates on or after November 19, 2018. All other updates 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
