With Single-Family Seller/Servicer Guide Bulletin 2010-5 (Selling and Servicing), Freddie Mac is announcing Guide changes related to the February 28th enhancement to Loan Prospector®. In support of their efforts to improve the quality and accuracy of appraisals for Mortgages they purchase, Freddie Mac is enhancing Loan Prospector to provide a point value estimate from Home Value Explorer® (HVE), Freddie Mac’s automated valuation model, for a property address.
With this Bulletin, Freddie Mac is also making changes to its selling and Servicing requirements, including: - Requiring a copy of the entire Note in the Mortgage file
- Updating the Guide to explicitly state that Sellers may not delegate their endorsement of Notes via power of attorney
- Reorganizing Guide requirements for living trusts and Illinois land trusts and providing additional information for eligibility provisions for living trusts
- Increasing the allowable amount for title expenses in New Hampshire and Rhode Island
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