Freddie Mac issued Bulletin 2022-7 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:
- removed the minimum indicator score requirement for Refi Possible Mortgages;
- clarified delivery instructions for Refi Possible Mortgages with recourse, indemnification, or other credit enhancements;
- increased flexibility for an active-duty military borrower who is unable to occupy the primary residence due to military service (property may still be deemed owner-occupied);
- updated requirements related to financing concessions for Freddie Mac REO properties;
- clarified that detached condominium units are not eligible for desktop appraisals;
- updated documentation requirements related to the installation of a manufactured home;
- expanded project review requirements for condominium projects with manufactured homes;
- updated project eligibility requirements for a condominium hotel or cooperative hotel (or similar type of transient housing); and
- revised eClosing consent requirements.
The Bulletin is effective immediately.
Click to view the Freddie Mac Bulleting 2022-7: https://www.tenaco.com/wp-content/uploads/2022/04/Freddie-Mac-Guide-Bulletin-2022-7-04-06-22.pdf
