Guide Bulletin 2018-3: Mortgages in Eligible Disaster Areas, Cash Payups and More
February 28, 2018
Please read Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-3, which features important updates on the following topics:
Mortgages in Eligible Disaster Areas Impacted by Recent Disasters
- Updates to automated collateral evaluation (ACE) appraisal waiver offers and collateral representation and warranty relief for properties in Eligible Disaster Areas impacted by recent disasters.
- Mortgages subject to a disaster-related forbearance plan as a result of the borrower being impacted by a recent 2017 Eligible Disaster are not required to be included for in the targeted QC sample.
Cash Payups for Mortgages with Low Loan Balances (LLB)
- Updates to reflect data delivery instructions for our previously announced LLB cash payup offering for mortgages with unpaid principal balances less than or equal to $200,000.
Condominium Unit Mortgages
- Removes the condominium unit mortgages credit fee in price assessment for mortgages secured by detached condominium units.
Guide Form 442, Appraisal Update and/or Completion Report
- Provides the option to submit Form 442 to the Uniform Collateral Data Portal® (UCDP®).
- Adds Form 442 to the list of appraisal report forms to the Guide.
For more details, read Guide Bulletin 2018-3 or contact your Freddie Mac representative.