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Website approval pending with the New York Department of Financial Services. Fannie Mae and Freddie Mac have updated their guidance regarding the impact of COVID-19 on loan originations, including details regarding the use of remote online notarization. There were no changes to the other topics announced in Guide Bulletin 2019-8. Update: On April 12, 2019, we reissued Guide Bulletin 2019-8 to clarify that Servicers may implement changes to property loss settlements immediately, ahead of the July 1, 2019 effective date. The lender must record the electronically signed and remotely, electronically notarized documents in the applicable public land records recorder’s office, in compliance with the requirements of the guide. Update: On April 12, 2019, we reissued Guide Bulletin 2019-8 to clarify that Servicers may implement changes to property loss settlements immediately, ahead of the July 1, 2019 effective date. Find out if Freddie Mac owns your loan using our secured lookup tool. As of the effective date of this bulletin, such electronic notarization otherwise meeting the requirements of this section may involve a remote process (Remote Online Notarization) in the states listed in Attachment C to this bulletin, Permitted States for Remote Online Notarization, provided that the system used for the remote notarization meets the following minimum standards: Freddie Mac also requires notaries to be located in a state which authorizes licensed notaries to engage in remote online notarization and must be licensed to engage in remote online notarization. Freddie Mac Multifamily Guide forms, and commonly used underwriting forms. Comprehensive PDF that contains all chapters of the Guide as of the last published Guide Bulletin with Guide updates. Guide Bulletin 2019-8 Announces Important Updates and Reminders for Servicers. Freddie Mac Announces Q2 Financial Results During Q2 we financed 202,000 rental units, 95 percent of which were affordable to families making 120 percent or less of area median income. All Rights Reserved. The signers’ electronic signatures must be attached to or logically associated with the closing documents and/or post-closing documents and have been remotely, electronically notarized using a system meeting the minimum technical standards. The lender is required to maintain the recording of the notarial ceremony for the life of the loan. In Lender Letter 2020-03, Fannie Mae noted that “due to disruption related to COVID-19, many lenders are reporting difficulty in obtaining in person notarizations and have requested increased flexibility to obtain remote notarizations (RON) to be used with eMortgage transactions as well as ink-signed transactions. Published 8/5/2020 [PDF - 19.9 MB] Download PDF. “If, after the publishing of this Lender Letter, a state not included in the above table expressly adopts a law that expressly permit the use of remote notarization or expressly accepts (either through state law or through the application of an express federal law) remote notarizations performed out-of-state in accordance with the laws of the state in which the notarial act is performed, remotely notarized loan documents meeting the requirements above will be permitted.” Among states which have authorized RON since then are Arkansas and Rhode Island.Freddie Mac issued Bulletin 2020-8, which states, “Section 1401.16 provides that a seller may sell mortgages to Freddie Mac in which electronic notarization is used to notarize electronic security instrument(s), other electronic closing documents (Electronic Closing Documents) and/or assignments and other post-closing documents (Post-Closing Documents). TO: Freddie Mac Servicers SUBJECT: TEMPORARY SERVICING GUIDANCE RELATED TO COVID-19 AND EDR CLARIFICATIONS FOR ALL HARDSHIP REASONS. 1100 Virginia Drive, Suite 125, Fort Washington, PA 19034. VIEW GUIDE ARCHIVES. Freddie Mac issued Bulletin 2019-7 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide. Among other things: The system used for remote notarization must meet the following minimum standards: Lenders will be required to make all selling representations and warranties per the Selling Guide, including representations and warranties related to: Lenders may not require a borrower to use remote notarization and must have other notary options for borrowers available. Arkansas and Rhode Island since have authorized RON. Freddie Mac issued Bulletin 2020-8, which states, “Section 1401.16 provides that a seller may sell mortgages to Freddie Mac in which electronic notarization is used to notarize electronic security instrument(s), other electronic closing documents (Electronic Closing Documents) and/or assignments and other post-closing documents (Post-Closing Documents). This Bulletin announces updates to insurance loss settlement requirements, removal of original Security Instrument requirement, addition of LNA provisions, clarifications for Document Custodians and Servicers on insurance coverage and more. April 10, 2019. Buy a home from HomeSteps ®, the real estate sales unit of Freddie Mac.