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Guide Bulletin 2018-7: New Low Down Payment Solution, Quicker Loan Processing and More

April 25, 2018

With Single-Family Seller/Servicer Guide Bulletin 2018-7, we’re making changes to further support first-time homebuyers, provide greater access to credit and opportunities to simplify loan origination. This Bulletin:

  • Introduces Freddie Mac HomeOne℠ mortgage, a new low down payment option for first-time homebuyers.
  • Revises income limit requirements for Freddie Mac Home Possible® mortgages to better focus on serving low- and moderate-income borrowers.
  • Announces enhancements to Loan Product Advisor® to assess eligible Home Possible mortgages against the previous and current area median income limits.
  • Allows the use of integrated construction conversion documentation for a construction conversion mortgage secured by a manufactured home.
  • Automates the process for warehouse lenders to release and transfer their interest in pledged mortgages through Loan Selling Advisor℠.

Please review additional Guide updates that may be important for your business.

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