Temporary Selling Requirements for Mortgages or Borrowers Affected by Hurricane Michael
November 7, 2018
As communities affected by Hurricane Michael continue to rebuild, we’re committed to helping you and your borrowers during this difficult time.
Today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-20 provides temporary selling requirements and flexibilities for certain mortgages secured by properties, or for borrowers with places of employment (as applicable), in eligible disaster areas impacted by Hurricane Michael.
The temporary requirements and flexibilities include, but are not limited to:
- Age of documentation requirements
- Special collateral requirements and guidance
- Seller reimbursement for property inspections
- Reminder for Freddie Mac Relief Refinance Mortgages℠
Please read Guide Bulletin 2018-20 for details on the temporary requirements and their associated effective dates.
As a reminder, new Guide Chapter 4407, Properties Affected by Disasters, does not take effect until November 19, 2018, and therefore will only apply to disasters that occur on or after November 19.