Are you ready to face a tougher Freddie Mac? The new requirements in Freddie Mac’s Bulletin 2010-19 kicked in last week, and mortgage professionals need to bring their 'A' game:
- Be ready to look into every borrower's credit report inquiries made in the previous 120 days — not just the 90 days previously required.
- Was the borrower granted additional credit? You need to get verification of the debt and include that debt when you qualify the borrower.
- This goes for all loans, not just manually underwritten loans.
