Guide Bulletin 2017-26: Updates to Credit Underwriting and Mortgage Eligibility Requirements, Loan Product Advisor and More
November 15, 2017
Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-26 announces a variety of selling changes to help simplify and streamline your processes and make doing business with us easier. With this Guide Bulletin we are:
- Providing an additional financing option by allowing 5-year ARMs as an eligible product for Home Possible®, Freddie Mac Relief RefinanceSM, and Financed Permanent Buydown Mortgages.
- Streamlining the origination process by revising borrower income and eligibility requirements for Home Possible Mortgages.
- Expanding origination opportunities by allowing the purchase of Texas Equity Section 50(a)(6) ARMs.
- Removing the requirement to manually calculate additional required reserves as a result of Loan Product Advisor® enhancements.
- Updating the Guide to rebrand the Selling System® to Loan Selling AdvisorSM.
- Adding non-discrimination language to the Guide prohibiting discriminatory business practices.