Get ready for new investor reporting requirements from Freddie Mac.
As part of its Investor Reporting Change Initiative (IRCI), the company will revise its single-family investor reporting requirements starting in May.
This includes moving the investor reporting cycle from mid-month to end-of-month and updating remittance cycles.
The company is making the changes to promote alignment and industry standards for the new Uniform Mortgage Backed Security (UMBS), set to go live on June 3.
IRCI updates will be effective beginning with the June 6 monthly factor/disclosure for all currently issued PCs.