Freddie Mac issued Bulletin 2025-6 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:
- Updated interested party contributions and lender incentive requirements;
- Updated employed income requirements and calculation methods;
- Updated income documentation requirements for existing and established pension income specifying that the age of documentation requirements in Guide Section 5102.4 (Underwriting a Mortgage for Sale to Freddie Mac-Age of documentation) do not apply when Internal Revenue Service Form 1099 is used to document current receipt and verifies income type and source;
- Removed the requirement to provide documentation evidencing the tax-exempt status of income from child support and Housing Choice Voucher homeownership program payments when Housing Choice Voucher homeownership program payments income is used in qualification;
- Removed the requirement that project eligibility must be determined through a reciprocal review Guide for mortgages secured by a single-wide manufactured home in a Planned Unit Development;
- Removed references to the Single-Family webpage for Gold Rush fees in the Guide;
- Refactored chapters 4402 (Seller-Owned Converted and Seller-Owned Modified Mortgages), 5305 (Other Income), 5501 (Assets), 5902 (Automated Asset Assessment with Loan Product Advisor Using Account Data), and 5905 (Automated Employment Assessment with Loan Product Advisor) to enhance readability; and
- Relocated chapters 5902 to new Section 5501.8 (Assets- Automated Asset Assessment with Loan Product Advisor Using Account Data) and 5905 to new Section 5302.6 (General Requirements for Documentation Used to Verify Employment and Income- Automated Employment Assessment with Loan Product Advisor).
Revisions related to IPCs and lender incentives are effective for mortgages with Note dates on or after September 3, 2025 (lenders are, however, encouraged to implement immediately). All other revisions went into effect May 7, 2025.
Click to view the Freddie Mac Guide Bulletin 2025-6: https://www.tenaco.com/wp-content/uploads/2025/05/Freddie-Mac-Guide-Bulletin-2025-6-05-07-25.pdf
