FHLMC Guide Bulletin 2015-6 Postsettlement Delivery Fees and Mortgages With Secondary Financing
On April 17, Freddie Mac released an update titled Guide Bulletin 2015-6: Postsettlement Delivery Fees and Mortgages With Secondary Financing.
Changes in Postsettlement Delivery fees Announced in Guide Bulletin 2015-6
Today, the Federal Housing Finance Agency (FHFA) directed Freddie Mac and Fannie Mae to make the following changes to our postsettlement delivery fees. These changes are effective with Freddie Mac settlement dates on or after September 1, 2015.
Market Condition Delivery Fee
As a result of steadily improving conditions in the housing market, we are eliminating the 25 basis points (bps) market condition delivery fee on all single-family mortgages we purchase. The market condition fee was introduced in 2008, as a result of adverse housing market conditions.
Other Delivery Fee Changes
We’re increasing delivery fee rates by 25 bps for mortgages with certain Indicator Score/Loan-to Value (IS/LTV) rates and for certain super conforming mortgages. We’re also increasing delivery fee rates by 37.5 bps for all cash-out refinance, investment property mortgages and mortgages with secondary financing.
We’re simplifying the delivery fee rate for Home Possible® mortgages by introducing a fixed 50 bps delivery fee for Home Possible mortgages with secondary financing other than Affordable Seconds®
All price changes apply to Freddie Mac Relief Refinance MortgagesSM and the delivery caps remain unchanged.
In addition, to help streamline our requirements, Freddie Mac is aligning maximum LTV ratios for mortgages with secondary financing with those for mortgages without secondary financing.
Please review Single-Family Seller/Servicer Guide (Guide) Bulletin 2015-6 for complete details on all these changes, including copies of the impacted grids of Exhibit 19 [pdf], Postsettlement Delivery Fees, with the changes highlighted.
For More Information
- Guide Bulletin 2015-6 [pdf].
- FHFA’s April 17, 2015, press release.
- Contact your Freddie Mac representative.
Please click here to view the online update.
Please click here to view Guide Bulletin 2015-6 [pdf].
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow. Website: www.safeguardproperties.com.