A Smart Execution for Loans $15 Million or Less
November 22, 2017
Our new smart execution makes Conventional and Targeted Affordable Housing (TAH) Loans that are $15 million or less easier to process and more efficient. With this new standard process, these loans are eligible for due diligence streamlining and will reduce costs for customers.
Some of the requirements that have been changed or eliminated include:
- Zoning reports
- Special Purpose Entity requirements
- Wood Destroying Organism reports
- Physical Risk reports (Form 1108)
Supplemental loans may qualify for this streamlined execution if the combined existing UPB and proposed supplemental UPB are $15 million or less.
More details can be found here. For additional information, please contact your Freddie Mac representative.