June 15, 2016
Effective June 20, 2016, we are changing our SBL Market Tiers by raising the Small Market ceiling/Standard Market floor from a rentable population of 60,000 to 105,000. As a result, 45 MSAs that were previously designated as Standard Markets now will be designated as Small Markets.
All loans currently under application will be grandfathered in under the previous Small Market ceiling/Standard Market floor threshold if Sellers submit standard or ERLA underwriting packages no later than August 5, 2016.
We have added a new document—Market Tiering (SBL) Effective 6/20/16—to our Originate and Underwrite page to reflect this change. If you have questions about this update, we encourage you to contact your Freddie Mac representative.
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