Now Live

Cash-Released XChange® SRP Pricing Based on Property Usage Type

Effective June 7, Cash-Released XChange® (CRX) servicing buyers may now adjust servicing released premiums (SRPs) based on a loan’s property usage type. Sellers also have the option to provide a valid value for property usage type in the Additional Servicing Released Attributes section when taking out a CRX contract or generating a cash rate sheet.
 
SRPs for CRX mortgages are always final on the funding date, and loan-level prices are determined at contract allocation. Providing optional information in the Additional Servicing Released Attributes section of the contract and rate sheet screens may improve SRP price certainty between the contract and loan-level pricing processes. 
 
We’ve updated our Import Cash Contracts Specification version 0.0.4 and Servicing Released Premium Adjustment Guide to reflect these changes.
 

GSE Overall Condition Type of C5 and C6 Appraisal Restrictions

Effective May 24, Sellers receive a critical edit when the GSE Overall Condition Type is ‘C5’ or ‘C6’ in Loan Collateral Advisor®. This new purchase restriction enforces our existing property eligibility and appraisal requirements as outlined in the Freddie Mac Single-Family Seller/Servicer Guide (Guide) Section 5601.12.

Check out our May 7 Single Family News Article for more details.

New PSPA Client Resource Center and Other PSPA Resources

  • Preferred Stock Purchase Agreement (PSPA) Resource Center is now live. This page provides an overview of PSPA-related requirements for higher-risk mortgages, the $1.5 billion cash volume limit, and Qualified Mortgages (QMs).
  • Freddie Mac is pausing its purchase of Enhanced Relief Refinance® mortgages until further notice. As announced in Guide Bulletin 2021-19, due to extremely low volume and the impact of the Revised General Qualified Mortgage Rule, including the consider and verify components, Freddie Mac is pausing its purchase of Enhanced Relief Refinance mortgages with application received dates on or after July 1, 2021, and all such mortgages with settlement dates after August 31, 2021.
  • New resources have been added to help support your transition to Guarantor in support of the $1.5B cash volume limit requirements under the PSPA:
     

ULDD Updates for the Retirement of CMT-indexed ARMS, Implementation Notes and Enumerations

Effective June 8, 2021, we updated the Uniform Loan Delivery Dataset (ULDD) Appendix D - XML Data Requirements Reference Tool to:

  • Remove CMT-indexed enumerations that are no longer supported as of October 1, 2021.
  • Update data point implementation notes and enumerations to align the specification with current business usage.

Sellers should review ULDD Specification Appendix D for the individual effective dates and impacts.

Coming Soon

New URL for Loan Selling Advisor’s Client Testing Environment

Effective July 12, Loan Selling Advisor website users should use the new URL https://LoanSellingAdvisorCTE1.fmapps.freddiemac.com to access the Loan Selling Advisor baseline client testing environment (CTE)

Bookmark the new link today.

No special access is required; all Loan Selling Advisor production users can access our CTE with their same user ID and password.  

You may continue to use the current Loan Selling Advisor baseline CTE through July 9: 

CMT-indexed ARMs Ineligible for Sale if Application Received Date is July 1 or Later

Effective July 1, Loan Selling Advisor will fire a critical edit to prevent delivery of Constant Maturity Treasury (CMT)-indexed adjustable rate mortgages (ARMs) that have an application received date of July 1, 2021 or later.  

This new purchase restriction aligns with our announcements to retire CMT ARMs in Guide Bulletin 2020-1 and Bulletin 2020-4.

Later this fall, Loan Selling Advisor will be updated to prevent delivery of CMT-indexed ARMs with a settlement date on or after October 1, 2021.