Freddie Mac issued Guide Bulletin 2016-19 revising Freddie Mac’s income qualification requirements and guidance. The revisions provide additional requirements and guidance on matters that impact the analysis of stable monthly income, such as: industry employment trends (e.g., employment characteristics); determination of stability and calculation of fluctuating earnings; and self-employment. Chapters 5301, 5302, 5303, 5304, 5305 and 5307 of the Single-Family Seller/Servicer Guide have been updated to reflect the revisions. The revisions apply to mortgages with settlement dates on or after March 6, 2017.
Rural Housing Service
RHS Updates Monthly Electronic Status Reporting Codes
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing updated Electronic Status Reporting codes for mortgage servicers. Per the Notice, Default Status Code 10 was
September 23, 2024
