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Important requirement changes at a glance
Through special Single-Family Seller/Servicer Guide (Guide) Bulletins and other announcements, in the last few months we've launched many changes to our underwriting requirements, purchase policies, and delivery fee rates.
- With our August 1 Guide Bulletin
[PDF 90K]
, we announced several changes to delivery fee rates for certain higher-risk mortgage products, including certain Home Possible® Mortgages effective for mortgages with Freddie Mac settlement dates on or after November 1, 2007.
- As directed by our regulator, the Office of Federal Housing Enterprise Oversight, we announced through our July 13
[PDF 183K]
and September 4
[PDF 191K]
Guide Bulletins, changes to our requirements for the purchase of nontraditional mortgages consistent with the practices referenced in the federal banking agencies' Interagency Guidance on Nontraditional Mortgage Product Risks. The changes will be effective for all nontraditional mortgages that have loan application dates on or after September 13, 2007
To assist you in understanding and implementing these changes, review our Overview of Recent Underwriting and Purchase Requirements Changes for Sellers
[PDF 83K] and for more details:
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