On May 7, 2025, Fannie Mae (SEL-2025-03 click here) and Freddie Mac (Bulletin 2025-6 click here) both announced updates to their Selling Guides concerning seller concessions, lender incentives, and interested party contributions. The new guidance will be effective for loans with a note date on or after September 3, 2025, but lenders are encouraged to use the updated guidance immediately. Of note is clarification that realtor rebates that are not applied to the transaction as financing concessions are considered sales concessions.
Full Memorandum
