Freddie Mac Multifamily Guide Bulletins Released
January 31, 2014
Today, Freddie Mac is publishing Guide Bulletins for the Freddie Mac Multifamily Seller/Servicer Guide and the Freddie Mac Delegated Underwriting for Targeted Affordable Housing Guide AllRegs. The Bulletins are available on the Freddie Mac Multifamily Guide Bulletins webpage.
Highlights of the key changes that we are making with the Guide Bulletins include:
- Revising Chapter 30, Ground Lease Mortgages, to incorporate new requirements for the length of the term and base rent for Ground Lease. Additionally, we are eliminating the Multifamily Ground Lease Analysis – Form 1145 and adding the requirements previously found on this form to the Multifamily Ground Lease Analysis form, available through the Loan Documents section of our website.
- Revising certain provisions concerning the property condition report
- Adding energy-related requirements to our description of code/regulatory compliance
- Specifying that the property condition consultant must note readily observable deficiencies and/or violations of federal, State or local laws, ordinances or codes in the property condition report
- Making a change to lead-based paint issues resolution and documentation
- Adding provisions that Freddie Mac may require if it permits a foreign guarantor
- Making a clarification to our requirements for property management contracts
Forms Updated with the Bulletins
We have made minor revisions to the following Guide forms. These updated forms can be found on the Guide Forms and Documents website page.
All changes are effective immediately. We encourage you to read the complete Bulletin for detailed information on what requirements have changed. Please contact your Multifamily Regional Representative with any Guide Bulletin questions.