The New Fannie Mae/Freddie Mac Uniform Mortgage Forms

In July 2021 the Uniform documents for Fannie Mae and Freddie Mac Uniform loan documents were modified from the version that was used since 1999. The changes in the documents address clarifying changes in the standards for executing mortgage documents such as electronic signatures and electronic transfers. Because of the Recession, there were so many foreclosures filed that the defenses, rules, and legislation proliferated and changed the landscape of both foreclosure and transactions. This program, presented by Erica Crohn Minchella, President at Erica Crohn Minchella, will exam the changes in only the mortgage documentation and what considerations and impacts those changes will bring.

Learning Objectives:

1. Examine the changes in the loan documentation regarding both the transaction and potential issues in the event of foreclosure

2. Identify the terms that have been added to the definitions and their impact on the transaction

3. Analyze strategies for helping borrowers understand the documentation they are executing