Freddie Mac issued Bulletin 2020-43 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated requirements with respect to:
- Loan Product Advisor resubmission tolerance for changes in loan amount on refinance transactions;
- Post-funding quality control targeted sampling;
- 2-to 4-unit and detached condominium projects;
- Cooperative share loans and cooperative projects; and
- Retirement of Home Possible Advantage.
Revisions relating to Loan Product Advisor resubmission tolerance are effective for mortgages with settlement dates on or after February 4, 2021. Certain revisions relating to condominium projects are effective for mortgages with settlement dates on or after February 2, 2021 and April 3, 2021. Revisions relating to the retirement of Home Possible Advantage are effective April 26, 2021. All other updates are effective immediately.
Click here to view the Freddie Mac Bulletin 2020-43: https://www.tenaco.com/wp-content/uploads/2020/11/FHA-Mortgagee-Letter-2020-35.pdf
