You’ll find new business flexibilities in the following updates we are announcing in Single-Family Seller/Servicer Guide (Guide) Bulletin 2021-9

  • Adding the option for the Seller’s quality control (QC) to use different loan samples for the underwriting review and the review for compliance with applicable law
  • Accepting electronic documentation of the mortgage insurance coverage when a mortgage file is called for Freddie Mac QC review
  • Updated requirements when using a third party for income and employment verifications

We’re also updating the following requirements:

  • Extending the mandatory implementation date for previously announced power of attorney updates
  • Evaluating 30-day accounts (formerly referred to as “open-end” accounts)
  • Mortgage insurance coverage for loans originated by the Massachusetts Housing Finance Agency
  • Certificates of incumbency and revised guidance related to these certificates

 

Review the Bulletin for details on these updates and view our Q1 selling policy highlights.