General World News

Freddie Mac expands use of AOLs in selling guide update

In an update to its selling guide, Freddie Mac announced Wednesday that it is expanding the use of attorney opinion letters (AOLs) in lieu of title insurance.

Under the new selling guidelines, Freddie Mac said it would allow AOLs to be used on “loans secured by a unit in a condo project,” on “loans secured by a property subject to restrictive agreements or restrictive covenants,” and on “loans secured by a property located in all U.S. jurisdictions, unless prohibited by law or identified as an ineligible transaction type.”

Ineligible transaction types include mortgage details ⇒

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