Freddie Mac issued Bulletin 2017-24 (Bulletin), announcing temporary revisions to selling requirements for mortgage loans impacted by California wildfires. The temporary selling requirements include updates with respect to: age of documentation requirements; assessment of property damage; automated collateral evaluation (ACE) appraisal waivers; Loan Collateral Advisor (collateral representation and warranty relief); reimbursement for property inspections; and cash contracts. The Selling Guide will not be updated to include these temporary requirements. Sellers must retain a copy of the Bulletin to ensure compliance with the temporary requirements. The temporary selling requirements went into effect October 25, 2017.
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
