Announcement 2026-052 Conventional/Conforming Agency Guideline Update
Conventional/Conforming Agency Guideline Update
Newrez LLC "Newrez" Approved Correspondent Clients, Newrez has updated the Conventional/Conforming guides for Fannie Mae and Freddie Mac loans.
Effective immediately for all existing pipeline and for new loan applications on and after July 1, 2026.
Freddie Mac Bulletin 2026-9
Sourcing of Large Deposits
The requirement to source a large deposit now applies only when all of the following requirements are met:
· the deposit occurred no more than 60 calendar days before the Application Received Date
· on or before the Note Date
· reflected in the mortgage file documentation
In addition, the updated policy clarifies that for foreign asset accounts (outside the U.S./territories), the large-deposit sourcing requirement applies whenever the account documentation reflects a large deposit under Sec 5501.1(f)(ii).
Source of Gift Funds
A business owned by a Related Person is now an eligible donor of gift funds/gifts of equity, provided the gift letter states the Related Person's ownership interest and is signed by that Related Person.
Separately, gifts from a Related Person, a business owned by a Related Person, a trust established by a Related Person, or the estate of a Related Person are exempt from interested party contribution limits when the donor is the property seller (provided the donor has no other interested-party affiliation).
Refi Possible Project Review
Refi Possible Condominium Unit Mortgages and Cooperative Share Loans must comply with the applicable Exempt from Review requirements in Sections 5701.7/5705.7.
Additionally, Critical Repair and evacuation-order project review requirements now apply to Refi Possible and Freddie Mac-owned no-cash-out refinance Condominium Unit Mortgages secured by units in attached condo projects of 11or more units.
Appraisal Report Exhibits for 2-4 unit properties
Requirements for exhibits included with an appraisal report for a 2-4 unit property have been updated to now only require a floor plan of the property when it is atypical or functionally obsolete for the Market Area.
CHOICEHomes Guide Correction
With the refactoring of Guide chapter 5703, the requirement for appraisal reports for CHOICEHomes was inadvertently changed to say the report may contain site-built homes as comparable sales when CHOICEHomes are not available. The guide has been corrected to state the appraisal report MUST contain site-built homes as comparable sales when CHOICEHomes as comparable sales are not available.