The Federal Home Loan Mortgage Corp. has expanded the pool of loans that are eligible for its collateral representation and warranty relief.
On mortgages that are evaluated through Freddie Mac’s Selling System, certain loans will soon be eligible to be considered for relief.
Among the newly eligible programs will be cashout refinance mortgages. Additionally added to the list are
special purpose cash-out refinance mortgages.
The updates were revealed Wednesday by the McLean, Virginia-based
secondary lender in Bulletin 2017-7.
Also eligible for relief are construction conversion and renovation mortgages as well as Texas Equity Section
50(a)(6) mortgages.
In addition, loans that Freddie and the seller-servicer have agreed are subject to credit enhancement other than primary mortgage insurance are eligible for relief.
The new requirements impact loans evaluated through the selling system on or after May 19.
