Freddie Mac issued Bulletin 2017-24 (Bulletin), announcing temporary revisions to selling requirements for mortgage loans impacted by California wildfires. The temporary selling requirements include updates with respect to: age of documentation requirements; assessment of property damage; automated collateral evaluation (ACE) appraisal waivers; Loan Collateral Advisor (collateral representation and warranty relief); reimbursement for property inspections; and cash contracts. The Selling Guide will not be updated to include these temporary requirements. Sellers must retain a copy of the Bulletin to ensure compliance with the temporary requirements. The temporary selling requirements went into effect October 25, 2017.
VA
VA Offers 40-Year Loan Modification Option
VA issued Circular 26-24-08 to offer a 40-Year Loan Modification option to assist borrowers in reaching an affordable payment in the current environment of rising
April 26, 2024
