Freddie Mac Updates

Freddie Mac sent word that effective for Freddie Mac settlement dates on or after January 5, 2012, "we are eliminating the minimum Indicator Score requirement of 620 for Relief Refinance Mortgages - Same Servicer with LTV ratios less than or equal to 80 percent, provided the principal and interest payment does not increase by more than 20 percent, and eliminating the minimum Indicator Score requirement of 620 for Relief Refinance Mortgages - Same Servicer with LTV ratios less than or equal to 80 percent, provided the principal and interest payment does not increase by more than 20 percent. Effective for Freddie Mac settlement dates on or after January 5, 2012, we are eliminating the maximum total LTV (TLTV) and Home Equity Line of Credit TLTV (HTLTV) ratio requirement of 105 percent for Freddie Mac Relief Refinance Mortgages - Same Servicer and Relief Refinance Mortgages - Open Access with LTV ratios of less than or equal to 80 percent." It is best to read the full bulletin at SteadyFreddie.