Freddie Mac Revises Exhibit 57
On March 17, Freddie Mac released a revision of Exhibit 57 regarding 1-to 4-unit property approved expense amounts. The effective date is April 15, 2014.
- Provides the approved Expense Limits, as that term is defined below, for the preservation and maintenance of abandoned properties
- Identifies proper usage of approved Expense Limits
- Outlines both yard maintenance and winterization seasonal requirements
- Explains the proper usage of miscellaneous expenses listed under the “Deed-in-Lieu and Other” expense category. Expense Items within this category are not restricted to abandoned properties.
Please click here to view the revision in its entirety.
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