On February 5, 2024, per Fannie Mae Selling Guide Announcement SEL-2025-01 (click here and see also updated Part B4-1.2-03 click here) and Freddie Mac Bulletin 2025-1 (click here), both Fannie Mae and Freddie Mac updated their selling guides to permit hybrid appraisals on loans made under the authority of Article XVI, Section 50(a)(6) of the Texas Constitution (Texas Home Equity Loans).
Per Freddie Mac’s announcement, this change will be effective for Loan Product Advisor submissions and resubmissions on or after April 7, 2025. Fannie Mae’s announcement notes that a DU update for the weekend of March 22, 2025 will add the hybrid appraisal expansion.
Full Memorandum
