Freddie Mac Updates for the End of March 2018
Freddie Mac has released a series of updates as the month of March 2018 comes to a close. One update features a very important date in particular.
"The Federal Housing Finance Agency has announced June 3, 2019, as the go-live date for the new Uniform Mortgage-Backed SecuritiesTM (UMBSTM)," according to Freddie Mac.
"This is the date Freddie Mac and Fannie Mae will begin issuing these securities, creating the new GSE combined market of to-be-announced (TBA) eligible securities."
In addition to the date for the UMBSTM, the company also revealed that it would be adding more updates to the Single-Family Seller and Servicer Guide Bulletin. The updates include:
Increasing the maximum LTV/TLTV/HTLTV ratios for purchase and “no cash-out” refinance mortgages for second homes and 2-unit primary residences
Revising our requirements for condominium unit mortgages
Allowing an attorney’s opinion of title for mortgages secured by units in a planned unit development
To learn more about these updates, click on the image above.
