Guide Bulletin 2017-13 Announces ACE Expansion to Include Purchases
August 23, 2017
With Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-13, we’re expanding our automated collateral evaluation (ACE) to include purchase transactions. This expansion will help save you and your borrowers time and money on more loans you originate.
When we introduced ACE in June, it was only available for no cash-out refinances. Effective September 1, 2017, purchase transactions for certain Loan Product Advisor® mortgages will be eligible and may obtain collateral representation and warranty relief through this path.
Today’s Guide Bulletin also updates the list of mortgages not eligible for ACE.