Skip to Page Content | Skip to Site Navigation | Skip to Section Navigation

Industry Letter Provides Additional Information on Our New Eligibility Criteria

As you prepare to adopt the Ability-to-Repay (ATR) and Qualified Mortgage (QM) requirements of the final rule issued by the Consumer Financial Protection Bureau (CFPB), today’s Industry Letter provides additional information related to possible future Freddie Mac changes in support of the final rule.

Helping you implement regulatory changes such as the ATR/QM final rule is part of our commitment to provide you with comprehensive support and make it easier for you to do business in today’s market.

In our May 6, 2013, Industry Letter, we announced that we would be limiting our future purchases and previewed the type of mortgages we will no longer purchase if they have application dates on or after January 10, 2014.

With today’s Industry Letter we are providing valuable information on:

  • Delivering mortgages with application dates prior to January 10, 2014
  • Complying with the points and fees requirements
  • Anticipated changes in our requirements and the timing when details of these changes will be announced

In addition, we are clarifying that while we have established our own eligibility criteria to align with the implementation of CFPB’s final rule, we will not make the final determination if a mortgage meets the CFPB requirements for a QM or certify a Seller’s designation of a mortgage’s status under the CFPB final rule.

For More Information

Back to Top