Freddie Mac issued Bulletin 2018-5 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide (Guide). Per the Bulletin, Freddie Mac: increased the maximum LTV/TLTV/HTLTV ratios for purchase and “no cash-out” refinance mortgages for second homes and 2-unit primary residences; revised requirements for condominium unit mortgages (including elimination of the project review type for 2- to 4-unit condominium projects); now permits an attorney’s opinion of title for mortgages secured by units in a planned unit development; revised Exhibit 4 (Single-Family Uniform Instruments) to align with updates made to the Texas Home Equity Uniform Instruments; revised Exhibit 5 (Authorized Changes to Notes, Riders, Security Instruments and the URLA) to align with updates made to the Maine MERS Mortgage Assignment; and updated Guide Form 989SF (Certificate of Incumbency for a Limited Partnership). The elimination of the project review type for 2- to 4-unit condominium projects becomes effective June 28, 2018. All other updates are effective immediately.
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
