FreddieMac New Assessment Rating Scale:
Meets/Exceeds/Does Not Meet
Freddie Mac reduced the number of Assessment Ratings on the Scale for Multi-Family in response to requests from Servicers. Now only three levels will be used for Ratings. The three levels are:
-- Meets Expectations
-- Exceeds Expectations
-- Does Not Meet Expectations.
Announced by Lori Umberger, Director of Surveillence, the new program begins in the Third Quarter of 2017. She stated that FreddieMac expects the majority of ratings to fall into the Meets Expectations Rating.
Freddie Mac, officially called Federal Home Loan Mortgage Corporation or FHLMC, offers services to those professionals involved with individuals wanting to Buy or Sell Single Family Homes. Those professionals must meet certain standards.
In addition, Freddie Mac offers its services to financing for Multi Family properties. The video below includes a brief explanation of the change to the Assessment Rating Scale for Multi-Family.
Logo courtesy of Freddie Mac.