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Freddie Mac Multifamily Bulletin Released

May 1, 2014

Today, we’ve published a Guide Bulletin for the Freddie Mac Multifamily Seller/Servicer Guide on AllRegs. The Bulletin is available on the Freddie Mac Multifamily Guide Bulletins webpage.

Highlights of key changes that we are making with this Guide Bulletin include:

  • Simplifying the final delivery process in the Guide
  • Revising requirements to reflect the consolidation of Loan Documents
  • Revising our third-party notification requirements for origination of a Mortgage and its assignment to Freddie Mac, and including new requirements for the Final Delivery Package
  • Simplifying the calculation to determine the amount of coverage for the Seller/Servicer’s fidelity and errors and omissions insurance policies
  • Removing the requirement that loans on multiple phases within a phased development be contiguous in order to be cross-collateralized
  • Adding circumstances under which we require the Servicer to provide us with the Borrower’s plan to address risks identified in the Annual Inspection Form (AIF)
  • Revising our requirements for setting up and closing a Custodial Account
  • Making additional administrative revisions and clarifications

Forms Added or Changed with this Bulletin

We have added or changed the following Guide Forms listed below. These updated forms can be found on the Guide Forms and Documents website page.

All Guide Bulletin changes are effective immediately. Read the complete Bulletin for detailed information on the requirements that have changed. Please contact your Multifamily Regional Representative with any Guide Bulletin questions.

New Final Delivery Process

With this Guide Bulletin, we have revised the final delivery process and its supporting documentation. The detailed instructions for preparing documents in a Final Delivery Package have been removed from the Guide and are now located with the Final Delivery Tables of Contents on the Purchase Resources page of FreddieMac.com:

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