InfoBytes Blog
Freddie Mac Announces Seller/Servicer Guide Updates To Implement Higher G-Fees
On February 29, Freddie Mac issued Bulletin 2012-06, which details Freddie Mac’s implementation of an upcoming increase in required spreads. As previously announced, effective April 1, 2012, Freddie Mac is increasing the required spreads for all products by 10 basis points. For Mortgages sold through the Freddie Mac Selling System Selling System, the 10 basis point increase is being implemented through the use of g-fee add-on functionality, and Freddie Mac has created a new Guide exhibit identifying the 10 basis point increase as the “Payroll Tax Cut Act Gfee Add-On.” Freddie Mac also has made a commensurate change in the pricing Sellers receive for Mortgages sold under the cash program. For all other delivery paths and executions, the 10 basis point increase will be reflected in the pricing provided to sellers.