Freddie Mac

I'm thinking he meant HUD...then again I know some local entities like CHFA (Connecticut Housing Finance Authority) has their own language they want to see on the surveys...

Look at Item #14

I don't believe Fannie Mae has any specific survey requirements...usually they ask for an ALTA/ACSM Land Title Survey.

The only thing might be the form of certification, which he or his attorney might want as opposed to the standard ALTA/ACSM certification.

Easiest way to avoid confusion would be to ask directly, and get it in the form of a contract.

(But you know that already.....and good to see you back).

These are the last requirements I have seen for Freddie Mac.

FREDDIE MAC
SURVEYOR’S CERTIFICATE

To ________________________(Lender), Federal Home Loan Mortgage Corporation, its successors and assigns, __________________________ (Title Company) and ______________________ (Borrower):

This is to certify that this map or plat and the survey upon which it is based were made in accordance with the “Minimum Standard Detail Requirements for ALTA/ASCM Land Title Surveys” jointly established and adopted by ALTA and NSPS in 2005, and includes Items ____ of Table A thereof. Pursuant to the Accuracy Standards as adopted by ALTA and NSPS and in effect on the date of this certification, undersigned further certifies that in my professional opinion, as a land surveyor registered in the State of _______________, the Relative Positional Accuracy of this survey does not exceed that which is specified therein..

Date:____________________________

By:______________________________ (SEAL)
Name:____________________________

Registered Land Surveyor No. __________.

(Please note the survey must be certified to Federal Home Loan Mortgage Corporation, its successors and assigns)

Freddie Mac Survey Requirements-CME
(Survey must be certified to Federal Home Loan Mortgage Corporation, its successors and assigns)
29.5(a): ALTA/ACSM requirements (CME 12/17/09)
1. For each Mortgage purchased by Freddie Mac, the Seller must submit a survey meeting the then-current minimum standard detail requirements for American Land Title Association/American Congress of Surveying and Mapping (ALTA/ACSM) Land Title Surveys. The survey must be made, dated and certified by a licensed civil engineer or registered surveyor not more than 90 days prior to the date of the Note. The surveyor's certification must
• Be the form of certification required by the most current ALTA/ACSM requirements, except that the Table A items need not be listed in the certification
• Be for the benefit of the Seller, Freddie Mac and its successors and assigns, and the title insurer issuing the title insurance policy if required by the title insurer

A survey meeting the additional requirements of Section 29.5 of the Guide must be
provided for each Mortgage unless otherwise noted below.

2. The Letter of Commitment may waive a survey for a Property located in California if
all requirements as specified in the Letter of Commitment are met, including but not
limited to the following:
• the principal balance of the CME Mortgage is $25,000,000 or less
• the title policy contains no exception for matters that would have been disclosed
by an accurate survey;
• the title policy includes certain endorsements specified in the Letter of
Commitment;
• neither a visual inspection by Freddie Mac (or, if the inspection has been
delegated, the Seller), nor the appraisal discloses any site condition that is not
insured under the title policy;
• the Borrower owns all, as opposed to only a portion, of the improvements located
on the Property; and
• the requirements with respect to zoning as set forth in the Letter of
Commitment are met.

3. For any supplemental Mortgage purchased under the Freddie Mac Multifamily
Supplemental Mortgage Product or any Mortgage refinanced under the Freddie Mac
Multifamily Streamlined Refinance Mortgage Purchase Product where the senior
Mortgage or the Mortgage being refinanced was originated no more than 10 years
before the Origination Date of the supplemental Mortgage or the Mortgage being
refinanced under the Multifamily Streamlined Refinance Mortgage Product, a current
survey of the Property is not required if all of the following requirements are met:
• The Seller delivers at the final delivery of the Mortgage a copy of the original
survey that was previously delivered to Freddie Mac and was certified to Freddie
Mac in connection with the senior Mortgage or the Mortgage being refinanced
(the "original survey");
• The title insurance policy limits any exception for survey matters to those
disclosed on the original survey and any new exceptions approved by Freddie
Mac;
• The title insurance policy contains a "same as survey" endorsement ensuring that
the Property insured is the same as the Property shown on the original survey; and
• The Borrower certifies that there have been no on-site activities or off-site
activities adjacent to the Property (such as construction, demolition or
modification of improvements, roadwork, or eminent domain proceedings) not
disclosed on the original survey. The certification must expressly state that the
certification is intended to be relied upon by the Seller in making, and by Freddie
Mac in purchasing, the Mortgage.
29.5(b): Additional Freddie Mac requirements (02/06/04)
If the survey is an update of an earlier survey, the surveyor must certify that he or she has reinspected the Property within the 90 days prior to the date of the Note.
In addition to the items that must be included in an ALTA/ACSM Land Title Survey, the survey must also include the following:
1. Substantial visible improvements (in addition to buildings) such as signs, parking areas or structures, swimming pools, etc.
2. Indication of access to a public way such as curb cuts, driveways marked, etc.
3. Parking areas and type and number of parking spaces (Parking space striping need not be shown.)
29.3: Legal description requirements (05/07/07)
For each Mortgage purchased by Freddie Mac, the Mortgage, title insurance policy, survey, lease, hazard insurance policies and all other documents pertaining to the Mortgage or Property must have a legal description consistent with that in the other documents.

Thanks Robert. I dont' see any requirement for a surveyors report on any specific form (like HUD).

Thanks Angelo.

If Freddie Mac wants an ALTA, and they usually do, then they will have to use the 2011 standard ALTA certificate.

Fannie Mae, the government-backed home loan insurance company, has achieved a landmark. After receiving enormous amounts in taxpayer funds to stay afloat, Fannie Mae has posted a substantial profit and promises to not take one more dime in federal resources. Lately, there have been a growing number of calls from the public and some lawmakers for Freddie Mac and Fannie Mae principal reductions to be done, as a large number of homeowners are underwater, owing more than their homes are worth. However, it isn’t likely to happen.