New Guide Bulletin Published
May 5, 2017
With this Bulletin for the Multifamily Seller/Servicer Guide (Guide), we are making a number of changes.
We are now accepting electronic signatures for Borrowers, Borrower principals, guarantors and Seller/Servicers on all numbered Guide forms (unless specifically required otherwise), third-party reports and certain other documents. Another significant addition to the Guide are the requirements for Moderate Rehab mortgages.
The updated Guide also includes the following changes:
- Linking to a new United States Geographical Survey (USGS) tool for identifying Elevated Seismic Hazard Regions
- Updating our insurance requirements for windstorm coverage and to reflect current liability policies
- Updating our processes and instructions for wire instructions
- Requiring two changes regarding the Preliminary Legal Issues Memorandum
- Requiring use of the new Multifamily Document Transmittal Form for hardcopy documentation without a Table of Contents
- Updating requirements related to SBL Mortgages
- Clarifying change notification requirements for changes in a Seller/Servicer's ownership
Read the details in this Guide Bulletin Update. If you have any questions, please call your Freddie Mac representative.