Lending requirements on super conforming residential loans are being eased next month at the Federal Home Loan Mortgage Corp.
Super
conforming loan limits on one-unit property loans that are backed by Freddie Mac are as high as $625,500 in the lower 48 states.
On mortgages secured by properties in Alaska, Guam, Hawaii and the U.S. Virgin Islands, the one-unit limit can be as much as $938,250.
The secondary lender announced
in Bulletin 2016-3 that it is expanding loan-to-value ratios on super conforming loans so that they align with ratios on mortgages subject to base conforming loan limits.
The revision was made
in response to market changes as Freddie moves to provide greater access to credit.
In addition, the McLean, Virginia-based company is aligning
minimum indicator scores for manually underwritten super-conforming loans with minimum scores required for manually underwritten mortgages subject to base conforming loan limits.
The new super-jumbo guidelines
impact loans with settlement dates on or after March 28.
An updated
super-conforming post-settlement delivery fee grid is online at www.freddiemac.com/singlefamily/guide/bulletins/pdf/bll1603.pdf.
