© Freddie Mac Single-Family Seller Servicer Guide
A Home Possible®
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Mortgage may be submitted
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to Loan Product Advisor® or may be a Manually Underwritten Mortgage, except as otherwise stated below.
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A Home Possible Mortgage secured by a Manufactured Home must be submitted
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A Home Possible Mortgage that is secured by a Manufactured Home and has a term greater than 20 years and a loan-to-value (LTV)/total LTV (TLTV)/Home Equity Line of Credit (HELOC) TLTV (HTLTV) ratio greater than 90% and less than or equal to 95% must receive a Risk Class of Accept.
A Home Possible Mortgage that is a super conforming Mortgage must be submitted to Loan Product Advisor and receive a Risk Class of Accept.
For special requirements for submitting Mortgages with Affordable
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An individual Borrower with insufficient credit history, for whom the Seller cannot document a credit reputation because the Borrower does not have sufficient credit history, is considered to have an acceptable credit reputation provided that:
1.
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2.
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| Property/Mortgage Type | Minimum Indicator Score |
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| 1-unit fixed-rate Mortgages that are purchase transactions | 660 |
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| 680 |
| 2- to 4-unit properties | 700 |
| Manufactured Homes | 720 |
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If none of the Borrowers have a usable Credit Score, Mortgages that are not (i) Home Possible
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Mortgages with LTV, TLTV or HTLTV ratios greater than 95%, or (ii) secured by Manufactured Homes, may be manually underwritten without Credit Scores provided that for these Mortgages, in addition to meeting the requirements
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in Chapter 5202, each Borrower's credit history for the most recent 24 months must show:
- No unpaid judgments, tax liens or collections
- No payments 60 days or more past due
- No more than two payments 30 days past due
- No housing payments past due
Home Possible
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Mortgages with LTV, TLTV or HTLTV ratios greater than 95% for which none of the Borrowers has a usable Credit Score are not eligible for sale to Freddie Mac.
A Home Possible Mortgage secured by a Manufactured Home may be a Manually Underwritten Mortgage only when the Mortgage:
- Meets the Minimum Indicator Score required in this section, and
- Has a term of 20 years or less, or an LTV/TLTV/HTLTV ratio of 90% or less, and
- Was submitted
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- to Loan Product
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- Advisor and received an evaluation status of invalid, ineligible, or incomplete, or a Risk Class of Caution, ineligible for A-minus
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