Correspondent ALERT – Guideline Update for Freddie Mac and Missouri Suspension for Non-Delegated Correspondent
Freddie Mac
Effective for all Freddie Mac loans locked on or after September 5, 2023, Arc Home will align with the change communicated in Freddie Mac Bulletin 2023-16 for the topic below.
· Alimony, Child Support and Separate Maintenance: Updated the income documentation requirements to specify that the obligation must be verified with legally binding documentation and to detail the acceptable evidence of the income payment receipt. Refer to Freddie Mac Selling Guide 5305.2 for details.
Missouri Suspension for Non-Delegated Correspondent
Effective September 5, 2023, Arc Home will not accept new loan registrations in the Non-Delegated Correspondent channel for properties located in the State of Missouri. This restriction applies to ALL loan programs.
Important Note: Arc Home will continue to accept new loan registrations in the Delegated Correspondent channel for properties located in Missouri.