Freddie Mac issued Bulletin 2018-19 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide (Guide). Per the Bulletin, Freddie Mac: updated rental income requirements; updated social security and disability income documentation requirements; removed the special loan-to-value(LTV), total LTV (TLTV), and Home Equity Line of Credit TLTV (HTLTV) ratio requirements for a “no cash-out” refinance of a mortgage owned or securitized by Freddie Mac; eliminated the mandatory expiration date on Form 960 “Concurrent Transfer of Servicing Agreement” (which results in sellers no longer needing to submit a new Form 960 annually); updated requirements with respect to settlement/Closing Disclosure statements; and revised requirements with respect to Enhanced Relief Refinance Mortgages. Freddie Mac also combined Form 475 (Warehouse Lender Agreement to Access Loan Selling Advisor) with Form 990SF (Warehouse Provider Certificate of Incumbency), deleted Form 475 and retitled Form 990SF to “Agreement and Certificate of Incumbency: Warehouse Lender”. The updated rental income requirements are effective for mortgages with settlement dates on and after March 1, 2019 (sellers may, however, implement the updates earlier). The eliminated LTV/TLTV/HLV ratio requirements for “no cash-out” refinances are effective for mortgages with settlement dates on and after February 1, 2019. All other changes are effective immediately.
FHA
FHA Revises and Streamlines Policy Established in Mortgagee Letters 2024-24 and 2025-12
FHA issued Mortgagee Letter (ML) 2025-14 revising and streamlining policy established in ML 2024-24 (Modernization of Engagement with Borrowers in Default) and providing clarifications to
June 4, 2025
