Updates to Documenting a Primary Residence in Loan Product Advisor
September 21, 2018
When a Primary Residence Is Occupied by a Borrower’s Parent or Disabled Child
Freddie Mac Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-15 recently announced adding Section 5103.8 of the Guide. The Guide Bulletin explains how to submit loan information in Loan Product Advisor® when a borrower is considered an occupying borrower, if a property is occupied as the primary residence by an individual(s) that is the borrower’s parent or disabled child.
When submitting loan information to Loan Product Advisor:
- The Seller should select “Primary Residence” for the “Intended Use of Property” field.
- The Seller should select “Yes” in the Declarations section for the question, “Does the Borrower intend to occupy the property as his/her primary residence?”
For More Information
- Read Guide Bulletin 2018-15.
- Contact your Freddie Mac representative.