Gift Update for Real Estate Agents & Builders! Freddie Mac will now allow the gift donor to pay the earnest money directly to the builder or selling agent if there is proof of the transfer from the donor’s account to the earnest money deposit holder. Previously, Freddie would not allow this and required the donor to only give the money to the borrower.
Related Article Title: Freddie Mac Selling Guide Updates- Bulletin 2021-25- Dated July 7, 2021 – Updated Charts! Written by: Sue Villanova, Staff Writer In this update, Freddie Mac provides clarification on guidelines for the Refi Possible® program announced in Bulletin 2021-17, updates to GreenCHOICE® transactions, and gift donors paying the earnest money direct. The changes […]