Freddie Mac issues selling guidance related to Covid-19

Federal Issues Covid-19 Freddie Mac Mortgages

On April 14, Freddie Mac issued Guide Bulletin 2020-11 to Freddie Mac sellers setting forth selling guidance related to Covid-19. The bulletin contains guidance relating to property eligibility, temporary flexibility with respect to the seller’s post-funding quality control review regarding targeted sampling of loans that become 60 days or more past due in the first six months, and revisions to requirements regarding maximum contracts and aggregate cash commitment volume for certain contracts. The bulletin also updates the list of permitted states for remote online notarization and provides additional clarifications regarding notarizations.