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Updated Requirements for Debt Payment-to-income Calculation, Appraisals and More in Guide Bulletin 2017-23

October 18, 2017

With Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-23, we're announcing updates that will provide you with new flexibilities and opportunities for your business. We're implementing changes to the following selling requirements:

  • Calculation of the monthly debt payment-to-income (DTI) ratio related to student loan debt and contingent liabilities

    The changes are effective for mortgages with Freddie Mac settlement dates on and after January 18, 2018, but you may implement the updated requirements immediately.

  • Appraisal requirements related to reporting appraisal updates and requirements for mortgages with settlement dates more than 120 days after the note date

    While some of the appraisal-related changes are not effective until January 18, 2018, you may implement them immediately.

  • Delivery requirements for mortgages with automated collateral evaluation appraisal waivers and for super conforming mortgages.

Review today's Guide Bulletin for details on the above changes and other updates and reminders on:

  • Pool maturity and issuance guidelines
  • Credit score requirements for mortgages sold through the fixed-rate cash Servicing Released Sales Process
  • Assets as a basis for repayment of obligations
  • Proposed Texas constitutional amendments for home equity lending

For More Information and Related Resources

  • Guide Bulletin 2017-23 
  • Updated Loan Product Advisor® feedback messages for installment debt and contingent liabilities
  • Training on the Learning Center related to student loans and contingent liabilities will be updated soon