Freddie Mac Seller/Servicer Guide 4701.5: Mortgage insurance for Cooperative Share Loans
Notwithstanding the requirements of Section 4701.1, for New York properties, the sales price of the Cooperative Interest may be used solely for the purpose of determining whether mortgage insurance is required for purchase transaction Cooperative Share Loans.
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 4701.5 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.