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Freddie Mac Multifamily Guide Bulletin Released

September 28, 2012

Today, Freddie Mac is posting Guide Bulletins for both the Freddie Mac Multifamily Seller/Servicer Guide and the Freddie Mac Delegated Underwriting for Targeted Affordable Housing Guide on AllRegs . The latest Guide Bulletin includes the following:

  • Updating our insurance provisions in response to market trends and feedback from our Seller/Servicers
  • Revising and adding new items to the underwriting checklist for conventional Mortgages
  • Consolidating the underwriting checklists for TAH Cash Mortgages into one checklist and adding new items to be included in the underwriting package
  • Updating and revising our requirements for:
    • Specific Servicing responsibilities
    • Delinquencies and foreclosures
  • Updating our provisions regarding Seller/Servicers’ obligations to comply with all applicable
  • laws and regulations

We advise you to review Chapter 31 in its entirety to become familiar with all changes to our insurance requirements. Substantive changes have been made to the following:

  • Acceptable Insurers: Carrier Ratings
  • Property Insurance Coverage
    • Deductibles
    • Blanket limit requirements
  • Business Income/Rental Value Coverage
    • Required Coverage
    • Deductibles
  • Ordinance & Law Coverage
  • Terrorism Insurance
  • General and Excess Liability Coverage
    • Required Coverage
    • Deductibles
  • Professional Liability Coverage

For a full overview of all the changes, you can review the Guide Bulletin Cover Letters. Please contact your Freddie Mac regional representative or relationship manager if you have any questions.

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