Updated SBL Guide Addendum
May 12, 2016
We revised recently published several changes to our Small Balance Loan (SBL) Guide Addendum. As part of this update, we have:
- Revised Chapter 46 to incorporate the new servicing fee structure and collateral requirements.
- Revised Chapter 9 to better reflect our current SBL borrower and guarantor types and to clarify trust/entity document review requirements.
- Eliminated references to the Operational Repair Letter that was retired in March (Chapters 8, 15A, and 40).
- Modified the load analysis requirements for low amperage properties in Chapters 14 and 15A.
- Updated the SBL Underwriting Checklist and Chapter 29 to incorporate additional due diligence requirements for SBLs exceeding $5 million.
Please review the full Summary of Updates for more details.
If you have questions about these updates, please contact your Freddie Mac representative.