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The enhancements will appear in Freddie Mac’s Multifamily Seller/Servicer Guide (“Guide”) and take effect on
- Property inspections will require an increased number of unit inspections and higher lease audit sample sizes. Additional documentation will be required for lease audits to confirm actual tenant rental payments.
- Stronger “Know Your Customer” requirements, including enhanced due diligence for first-time borrowers and borrowers with limited multifamily experience, additional liquidity verification and verification of real estate owned by the borrower.
- Updated process to limit Freddie Mac Multifamily business with certain title companies when applicable.
- Additional appraisal review and appraiser independence requirements to safeguard the independence, objectivity and impartiality of appraisers.
The April updates reflect another step in Freddie Mac’s ongoing effort to enhance its processes. In
Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, more than 90% of the eligible rental units we fund are affordable to families with low-to-moderate incomes earning up to 120% of area median income.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More:
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