Freddie Mac issued Guide Bulletin 2016-12 (Bulletin). The Bulletin: revises ARM notes and riders to include new language imposing a lifetime floor equal to the ARM’s margin; consolidates certain technology licenses for Freddie Mac tools and systems into a master systems license; replaces references to Loan Prospector with Loan Product Advisor; updates the Guide glossary to include a definition for “Servicing Tool”; eliminates the requirement that sellers obtain a signed borrower consent form authorizing the release of the borrower’s information to a counseling agency in the event of a delinquency; updates Loan Prospector and the Affordable Income and Property Eligibility tool with the 2016 area median income estimates issued by the Federal Housing Finance Agency; and amends the Wisconsin security instrument.
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
