FHLMC Bulletin 2014-6 amends FHLMC Single-Family Seller/Servicer Guide, Vol. 1 ch. 22.19 & 58.3.2 to remove the concerning rent loss insurance for property which is a primary residence containing two to four units.
Pursuant to instructions contained in this Bulletin, plus the Authorized Changes by FNMA to Forms 3170 and 3170.53, we will be configuring the following, standard versions of these forms to no longer print Paragraph (D) (Rent Loss Insurance) for the types of property described above and for conventional loans only:
- 3170 Rider 1-4 Family (Cx32)
- 3170 Rider 1-4 Family Rider – MI (Cx1582)
- 3170.53 Puerto Rico 1-4 Family Rider (Cx11686)
- NY CEMA GAP – 3170 Rider 1-4 Family (Cx16199)
These document changes will take effect on May 7, 2014. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
May 1, 2014