Five Brothers

Freddie Mac Bulletin 2014-2: Selling and Servicing

February 14, 2014

 

2014-2

 

TO:  Freddie Mac Sellers and Servicers

 

SUBJECTS

 

Selling and Servicing

 

This Single-Family Seller/Servicer Guide ("Guide") Bulletin announces that we are updating Guide Form 16F, Annual Eligibility Certification Report, to enhance its usability and provide additional functionality.

 

Servicing

 

This Bulletin revises our requirements for reimbursement of condominium, homeowners' association (HOA) and Planned Unit Development (PUD) assessments in States where a lien for such amounts can take priority over Freddie Mac's lien.

 

Selling

 

This Bulletin updates and revises our selling requirements by:

 

  • Updating our reserves requirements
  • Delaying implementation of postsettlement delivery fee ("delivery fee") and guarantee fee changes announced in Bulletin 2013-26
  • Reducing the delivery fee rate for Home Possible® Mortgage purchase transactions
  • Introducing a summary of changes made to Guide Exhibit 19, Postsettlement Delivery Fees
  • Revising resubmission requirements for Mortgages submitted to Loan Prospector® after the Note Date or the Effective Date of Permanent Financing for Construction Conversion and Renovation Mortgages
  • Updating the Guide to include Phase 2 ULDD Data Point requirements and clarifications on existing ULDD Data Points
  • Updating and consolidating our property eligibility and appraisal requirements in Guide Chapter 44, Property and Appraisal Requirements

 


In addition to the changes listed above, we are making further updates and revisions, as described in the "Additional Updates" section of this Bulletin.

 

EFFECTIVE DATE

 

All of the changes announced in this Bulletin are effective immediately unless otherwise noted.

 

Please click here to view the online Bulletin in its entirety