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New Guide Bulletin Published

June 29, 2017

With this Bulletin for the Multifamily Seller/Servicer Guide (Guide), we made a number of changes, and we want to highlight the following revisions:

  • Revising the following requirements for SBL mortgages:
    • Property fundamentals
    • Borrower fundamentals
    • Operations and maintenance (O&M) programs
  • Revising the seismic risk requirements for SBL and Manufactured Housing Community (MHC) Loans
  • Revising our requirements for the Mortgage term, eligible properties, and property description and evaluation for MHC Mortgages
  • Changing the process for the good faith deposit for the early rate-lock delivery option
  • Adding to the Guide our requirements for Crowdfunding
  • Revising requirements for post-purchase reporting:
    • Announcing upcoming changes requiring the use of CREFC® reporting formats
    • Updating the requirements for the submission of the Mid-Year Rent Schedule
    • Adding references to the supplemental forms that Servicers must use for reporting on co-ops and bond credit enhancement mortgages
    • Updating the requirements for reviewing and verifying General Loan Information (GLI)
    • Changing the name of the Unstabilized Monitoring Form
  • Incorporating Servicing requirements for Credit Facilities (revolving lines of credit)
  • Including a Seller acknowledgment concerning disclosure that Freddie Mac may request if a Seller/Servicer sells or services loans that are part of a securitization
  • Updating the environmental assessment protocol for drinking water quality
  • Adding an additional stipulation for Shared Access Agreements and Shared Use Agreements
  • Updating Freddie Mac’s requirements in connection with filing IRS Form 1099-A and 1099-C, and Freddie Mac’s Form 1065M, Report of IRS Form 1099-A and Form 1099-C Filing
  • Including Freddie Mac’s requirements for an eligible Low Income Housing Tax Credit (LIHTC) syndicator in the Guide and eliminating references to the LIHTC Syndicator Request Form
  • Updating Chapter 55 to reflect its use in preparing documentation required for a Transfer of Ownership

Read the details in this Guide Bulletin Update. If you have any questions, please call your Freddie Mac representative.