Freddie Mac Issues Bulletin 2018-15: Selling Updates

Freddie Mac issued Bulletin 2018-15 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide (Guide). Per the Bulletin, Freddie Mac: updated requirements with respect to authorized user accounts; revised requirements for super conforming mortgages; revised provisions related to the automated cash specified payups process, including updated eligibility requirements for automated cash payups and removal of special delivery requirements; and eliminated the requirement to obtain additional documentation or evaluate the income or loss from secondary self-employment when the income is not considered for qualification purposes. Updates with respect to authorized user accounts are effective October 4, 2018. Revisions related to the automated cash specified payups process are effective October 15, 2018. Revisions pertaining to super conforming mortgages are effective December 19, 2018. All other updates are effective immediately.

Click Here to View the Freddie Mac Guide Bulletin 2018-15