Freddie Mac issued Bulletin 2018-20 (Bulletin), announcing temporary revisions to selling requirements for mortgage loans impacted by Hurricane Michael. The revised requirements pertain to: age of documentation requirements; property damage assessments; automated collateral evaluation (ACE) appraisal waivers; Loan Collateral Advisor (collateral representation and warranty relief); property inspection reimbursement; and cash contracts. The Selling Guide will not be updated to include these temporary revisions. Sellers must retain a copy of the Bulletin to ensure compliance with the temporary revisions. The revised selling requirements went into effect October 11, 2018. The revised age of documentation requirements sunset on April 11, 2019.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
