Freddie Mac Mails Out Seller Bulletin 2000-4 Announces Miscellaneous Changes

July 10, 2000

Freddie Mac mailed Bulletin 2000-4 on July 10 to announce:

  • Reducing the minimum servicing fee required for 3/1 and 5/1 adjustable-rate Mortgage (ARM) products and fixed-rate Mortgages
  • Reducing the maximum servicing fee allowed for 3/1, 5/1, 7/1 and 10/1 ARM products purchased under Original Cash
  • Changing our required remittance cycle to ARC (accelerated remittance cycle) for 3/1, 5/1, 7/1 and 10/1 ARM products purchased under Original Cash
  • Prohibiting the purchase and securitization of Mortgages originated with prepaid credit insurance
  • Accepting Fannie Mae's Multistate Mortgage Insurance Rider
  • Revising Uniform Instruments and Freddie Mac Notes and Riders to reflect the new effective date of January 1, 2001

Source: Freddie Mac