Freddie Mac issued Bulletin 2022-16 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:
- announced that properties with age-based resale restrictions are now eligible for ACE appraisal waivers and for appraised value representation and warranty relief provided by Loan Collateral Advisor;
- defined and highlighted partial income representation and warranty relief through Loan Product Advisor asset and income modeler income offerings and provided more details on the requirements for each income representation and warranty relief eligibility result;
- changed the calculation of the required fidelity insurance coverage amount;
- clarified when a borrower can and must sign the Consumer Consent Form (the form to be electronically signed by each borrower prior to the borrower’s use of an eClosing System);
- removed the requirement that Mortgage Electronic Registration System (MERS) be the original mortgagee of record;
- clarified that the master servicer can use the master servicer’s servicing agent’s MERS eRegistry and eDelivery participation to service eMortgages;
- updated the Collateral Pledge Agreement (CPA)-Exhibit 104, to allow for the electronic signature and transmission of an executed CPA; and
- updated Freddie Mac-Approved Mortgage Insurers-Exhibit 10, to reflect Radian Guaranty’s physical address change to 550 East Swedesford Road, Suite #350, Wayne, PA 19087.
Revisions with respect to fidelity insurance coverage, Servicing Agent’s MERS eRegistry and eDelivery participation, and the Collateral Pledge Agreement are effective August 10, 2022. All other updates are effective August 3, 2022.
Click to view the Freddie Mac Guide Bulletin 2022-16: https://www.tenaco.com/wp-content/uploads/2022/08/Freddie-Mac-Guide-Bulletin-2022-16-08-03-22.pdf
