Bulletin 2022-027 Conforming Underwriting Guide Updates

Conforming Underwriting Guide Updates

Newrez Approved Correspondent Clients: Newrez is aligning with the following enhancements in Fannie Mae Announcement SEL-2022-02 and Freddie Mac Bulletin 2022-5. The changes announced are effective immediately.


Fannie Mae Condo Project Manager


As a reminder, enhancements to CPM were released on March 4, 2022. The changes and enhancements included the following:


  • Improved user experience while addressing new data elements to support policy items such as deferred maintenance.
  • Users will find in CPM, the project eligibility decisions of condos and co-ops that meet eligibility requirements as well as projects made “unavailable” because they do not meet requirements. Regardless of the project review process used in underwriting, loans secured by units in any project with a CPM status of “unavailable” are ineligible.
  • The list of approved projects will no longer be published on Fannie Mae’s website.
  • The description for Project Type Codes T and 2 status designations were updated to reflect usage for all Fannie Mae-approved projects (these codes are no longer limited to PERS approvals)


Freddie Mac – Alternative to Signatures on Tax Returns


To allow additional flexibility, Freddie Mac will permit the use of a signed IRS Form 4506-C as an additional alternative to the borrower’s signature on the tax returns.