Effective immediately for all Freddie Mac loans, Arc Home will align with the changes communicated by Freddie Mac in Bulletin 2024-9 for the topics below.

·         Rental Income: Enhanced the eligibility and calculation requirements for using rental income to qualify. Refer to Freddie Mac Selling Guide 5306.1 and Selling Guide 5306.4 for complete details.

·         Condominium Projects: Expanded guidelines to allow shared amenities with other residential projects. Refer to Freddie Mac Selling Guide 5701.3 for details.

Effective for Freddie Mac loans with a Note Date on or after September 5, 2024, Arc Home will align with the change announced in Freddie Mac Bulletin 2024-7 for the topic below.

·         Flood Insurance Premium: Revised guidelines to specify that the full risk premium, plus any fees and surcharges, must be used to calculate the qualifying ratios. Refer to Freddie Mac Selling Guide 5401.1 and Selling Guide 5401.2 for complete details.

The above guideline revisions apply to Wholesale and Correspondent loan submissions. Please contact your Arc Home Account Executive with any questions.