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Home Possible Updates - 10/29/18

Freddie Mac Seller/Servicer Guide Bulletin 2018-13 contained multiple updates to the Home Possible® and Home Possible Advantage® products which go into effect on October 29, 2018.

These changes include the consolidation of the two Home Possible® programs into a single product offering, the addition of 3-4 unit properties with ARMs, allowances for non-occupant co-borrowers and the removal of restrictions for borrowers that own other residential properties.

The table below summarizes all of the updates to the Home Possible® and HomePossible® LMI offering.

*Updates are not applicable to Home Possible LMI products

 

Please reference the Product Profiles page for full details of the changes outlined in this announcement.