Mortgage Industry News
« Return to Mortgage Industry News
Freddie Mac Expands LTV Ratios for Super Conforming Mortgages
Thursday, February 18, 2016
Freddie Mac is announcing changes to its Single-Family Seller/Servicer Guide which the company says will provide expanded homeownership opportunities which the company says will provide expanded homeownership opportunities for some borrowers, especially those in designated high-cost areas. The changes, it says, will also streamline the underwriting process.
The principal change, effective for mortgages with settlement dates on or after March 28, will revise loan-to-value requirements (LTV), total LTV (TLTV) and Home Equity Lines of Credit LTV (HLTV) ratios for super conforming mortgages and 1-unit investment property mortgages.
Read Full Article