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Guide Bulletin 2015-20: Updates to Eligibility Requirements for Borrower Funds and Reserves

December 2, 2015

In Single-Family Seller/Servicer Guide (Guide) Bulletin 2015-20, we're announcing updates to:

  • Borrower Funds and Reserves. In response to Seller requests, we evaluated our requirements and made updates for certain eligible asset types.
  • Occupant Borrower Contribution. We removed the requirement for a minimum 5 percent down payment from occupant Borrower Funds for mortgages where a nonoccupying borrower is present and updated the Guide to permit all Borrower Funds and reserves to come from the occupant and/or the nonoccupant borrower.
  • 2016 Loan Limits. We updated the Guide to reflect the 2016 base conforming loan limits and high-cost area loan limits announced in our November 25, 2015 Single-Family Update email.

Reminders and Updates

  • Private transfer fee covenants reminder.
  • Retirement of Form 996, Warehouse Provider Release and Transfer, and updates to delivery instructions for Form 996E.
  • Updates to Form 990SF, Warehouse Provider Certificate of Incumbency, and Form 905, Guide Access Manager Authorization.
  • Become familiar with our upcoming Guide reorganization.

For More Information

  • Read Guide Bulletin 2015-20.
  • Contact your Freddie Mac representative.

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