Is flood certification required for Relief Refinance Mortgages?
Flood zone determination must be made for each mortgage sold to Freddie Mac, including Relief Refinance Mortgages. See Guide Section 58.3 for requirements. • If a borrower has 10 financed properties, do your old requirements permitting up to 10 financed properties or your new requirements permitting up to four financed properties apply to Relief Refinance Mortgages? For Relief Refinance Mortgages – Same Servicer, you must represent and warrant that the mortgage being refinanced met the requirements that were in effect at the time the mortgage was sold to Freddie Mac. You do not need to represent and warrant to the current requirements in Guide Chapter 22. For Relief Refinance Mortgages – Open Access you must meet the current requirements of Guide Chapter 22, which permits up to four financed properties.
Related Questions
- Where do I find the cash adjustor value required for Relief Refinance Mortgages with LTV ratios greater than 105 percent that are sold to Freddie Mac for cash?
- How do I deliver Relief Refinance Mortgages with LTV ratios greater than 105 percent under the Guarantor execution?
- Is flood certification required for Relief Refinance Mortgages?
