Freddie Mac’s Guide Bulletin 2020-45 for Sellers Published

Freddie Mac Announced Guide Bulletin 2020-45 setting forth new loan limits for 2021, and revisions to the maximum loan-to-value (LTV) ratio permitted for certain Home Possible Mortgages secured by 2- to 4-unit properties along with newly reformatted language related to LTV/total LTV (TLTV) ratios for Home Possible Mortgages that use sweat equity as an eligible source of funds.  The Bulletin also highlights simplified property valuation reverification requirements for Sellers’ in-house quality control and provides updated power of attorney (POA) requirements, including some that align with previously announced COVID-19-related flexibilities.