Over the course of several bulletins and an email update, FHLMC announced various revisions to their rental income requirements (see FHLMC Bulletins 2019-4, 2018-13, & 2017-12; see also http://www.freddiemac.com/singlefamily/news/2018/0110_rental_income_and_rescission_principles.html).
Among these various changes was an update to FHLMC Form 91 (“Income Calculations”; available under “Forms and Documents” at: http://www.freddiemac.com/singlefamily/guide/). Traditionally, we have not provided this form (and no clients have requested it), but we will begin providing this form as “Freddie Mac Form 91 Income Analysis” (Cx22994). This form will be assigned “upon request” to clients who ask for it. Please note that testing will be needed to ensure that the proper data is being sent in the loan file, as Cx22994 utilizes many new fields. The default print configuration is as follows:
- Document Package Type = Processing
- Document Package Type = Underwriting
In addition to this document, we will continue to provide our copies of FNMA Form 1084 (“Cash Flow Analysis”; Cx5530 and Cx15293) on an “upon request” basis. We will be updating our copies to reflect the most recent version of this form (which is available at: https://www.fanniemae.com/singlefamily/selling-servicing-guide-forms).
These changes will be in effect on April 9, 2019. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
DR 283667 & 286524