Freddie Mac just updated their gift guidelines to require that a lender must verify either the transfer of funds from the gift donor account to the borrower, or evidence of the transfer of the gifts funds from the donor’s account to the settlement or closing agent. This is effective for loans closing on May 5, 2020 or after.

Related Article Title: Freddie Mac Selling Guide Updates – Bulletin 2020-1 – Dated February 5, 2020 Written by: Lloyd Rutherford, Staff Writer Freddie Mac is back on track this year by issuing an update with a lot of reminders and credit policy changes.  Take a few minutes to read through this article for some important […]

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