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.
What is Freddie Mac? Freddie Mac is a government owned corporation that buys Mortgages and packages them into Securities for sale.
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.
that for you.
Good morning Lynn. Sometimes simple is best. Enjoy your day!
Thank you for the information. I learned something new from your post
Lynn B. Friedman - This is excellent information! Thank you for always keeping us informed with value give posts. I know you always care.
I'm looking forward to having spare time to give you a call. I can't wait to catch up with you!