On November 4, Freddie Mac issued Single-Family Seller/Servicer Guide Bulletin 2026-15, which, effective immediately, reclassifies special purpose cash-out refinance Mortgages used to buy out a co-owner’s equity as “no cash-out” transactions and renames them “equity buyout refinance Mortgages.” Among other things, the bulletin: (i) extends to these Mortgages all loan-to-value ratios, underwriting requirements, and affordable programs currently available for “no cash-out” transactions; (ii) requires that proceeds first be used to buy out the co-owner’s ownership interest; (iii) requires Sellers to retain documentation supporting the existing 12-month joint ownership requirement; and (iv) eliminates the prior requirement that the Borrower and co-owner jointly occupy the property.

Separately, the bulletin incorporates the broad availability of VantageScore 4.0 previously announced in Bulletin 2026-H (covered by InfoBytes here), allowing Sellers to use VantageScore 4.0 Credit Scores for Manually Underwritten Mortgages, and eliminating the Alt FICO Credit Fee assessed to the Seller.

The bulletin also reorganizes the Guide’s rental income requirements to make them easier to find based on the transaction type, property type, unit count and loan purpose, a change Freddie Mac stated did not alter any requirements. Freddie Mac also updated requirements when rental income is documented with an appraisal report. The appraisal report is not required to be a UAD 3.6 appraisal report for non-subject properties and departure residences, while a UAD 3.6 Traditional Appraisal Report is required for a subject 2- to 4-unit Primary Residence. For subject 2- to 4-unit Primary Residences and subject Investment Properties for which rental income is not used to qualify, Sellers may deliver estimated gross monthly rental income documented by a written Borrower statement or Section 3a of the Uniform Residential Loan Application if the appraisal report omits it.

Finally, the bulletin restores accessory dwelling unit (ADU) zoning compliance requirements that Freddie Mac stated were inadvertently removed in a prior refactoring of Chapter 5306. Third-party verification reports are now permitted as asset documentation for depository, securities, and retirement accounts, including when accumulated assets are used as income. Effective November 10, Sellers may also deliver Borrower email and telephone contact information through the Uniform Loan Delivery Dataset at their option.