What is Freddie Mac exclusionary list?
Freddie Mac Exclusionary List means the list compiled, maintained and distributed by Freddie Mac containing names and other information concerning persons or entities that are excluded or suspended from participating in transactions or doing business with Freddie Mac, either directly or indirectly or as a principal.
Does Freddie Mac require an appraisal?
Freddie Mac does not require the use of appraisal management companies or any other third-party vendor to order appraisals. The appraisal report must be signed by an appraiser that the Seller, or a third party specifically authorized by the Seller, has approved.
What are extenuating circumstances for Freddie Mac?
Freddie Mac considers an extenuating circumstance to be a nonrecurring or isolated circumstance, or set of circumstances, that was beyond the Borrower’s control and that significantly reduced income and/or increased expenses and rendered the Borrower unable to repay obligations as agreed, resulting in significant …
Who was involved in the Freddie Mac scandal?
The SEC also charged three former Freddie Mac executives — former Chairman of the Board and CEO Richard F. Syron, former Executive Vice President and Chief Business Officer Patricia L. Cook, and former Executive Vice President for the Single Family Guarantee business Donald J.
What does it mean to be on Watchlist System for Award Management exclusions?
System for Award Management Exclusions (SAM Exclusions) means the list maintained and disseminated by the General Services Administration (GSA) containing the names and other information about persons who are ineligible.
What does offense z1 mean?
crime.”10 The court held that “under no circumstances is evidence of a. crime other than that for which a defendant is on trial admissible when. the defendant has been acquitted of that other offense.”z1.
How long is appraisal good for Freddie Mac?
120 days
The effective date of an appraisal update must be no more than 120 days before the Note Date.
How do lenders choose appraisers?
Lenders may use a pre-approved list or panel to select a residential appraiser, provided that (1) any employees of the lender tasked with selecting appraisers for the list are independent of the loan production staff; and (2) the loan production staff is not involved in selecting appraisers off the list for particular …
How long is credit good for Freddie Mac?
All credit reports must be dated within 120 days before, as applicable, the Note Date, or for Construction Conversion and Renovation Mortgages, the Effective Date of Permanent Financing, the modification date for Seller-Owned Modified Mortgages, the Conversion Date for Seller-Owned Converted Mortgages or the date of …
Does Freddie Mac require medical collections to be paid off?
Freddie Mac’s rules are similar to Fannie Mae’s, but what about FHA lenders? FHA does not consider medical debt in its underwriting. It says, “Medical Collections are not required to be paid and satisfied.”