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2010 Area Median Income Estimates Available in Loan Prospector

August 23, 2010

On August 22, Loan Prospector® was updated to reflect the 2010 area median income (AMI) estimates issued by the Federal Housing Finance Agency. Sellers may begin using the 2010 AMI estimates immediately, but they must use these estimates for Home Possible® Mortgages delivered to Freddie Mac on or after December 1, 2010.

Freddie Mac uses the AMI estimates, among other things, to determine eligibility for our Home Possible Mortgages. Our pricing incentive for purchase transaction Home Possible Mortgages and other lender-branded affordable mortgages is also based on AMI estimates.

You can find specific details on the 2010 AMI estimates, using our Affordable Income & Property Eligibility tool on FreddieMac.com. The online tool will be updated on August 23, 2010.

For More Information on Area Median Income Estimates

• Freddie Mac Sellers: Additional guidance regarding the 2010 AMI estimates and delivery requirements can be found in Single-Family Seller/Servicer Guide (Guide) Bulletin 2010-19.
• Third-party originators: Check with your wholesale lender to determine how they plan to address these requirements.