MortgageCurrentcy Subscriber Library

Description:

SELLING UPDATES

This Guide Bulletin announces:

• Quality control (QC) and Exclusionary List

➢ Revised Exclusionary List screening requirements and fraud-related reporting changes

➢ New links to reference materials related to quality control (QC) and fraud prevention

• Condominium and Cooperative Projects

➢ Revised requirements addressing projects in litigation or alternative dispute resolution (ADR) proceedings – August 31, 2021

➢ Additional specificity for Condominium Project review and eligibility requirements

➢ Updates for Cooperative Projects with excessive single-investor concentration

➢ Revised requirements for limited equity Cooperative Projects

➢ Guidance related to delivery of taxpayer identification numbers (TINs) for Condominium Unit Mortgages

➢ Minor updates to ownership and use of Common Elements of a Condominium Project and Common Areas of a Cooperative Project – August 31, 2021

• Property eligibility and appraisals

➢ A new exception when multiple parcels that would normally be adjoined are separated by a road

➢ Removal of the requirement to report the transaction type and owner of record on the appraisal update

➢ Additional specificity regarding appraisal timing

• Asset and income modeler (AIM) for self-employed Borrowers – August 1, 2021

• Remote notarization

➢ Addition of Remote Ink Notarization (RIN) with minimum standards

➢ The addition of West Virginia to the list of States eligible for Remote Online Notarization (RON)

• Home Possible® Mortgage area median income limits – June 16, 2021

• Authorized changes for Security Instruments

Document type:

  • Agency Bulletin/Form

Agency:

Freddie Mac

Download:

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