Freddie Mac Seller/Servicer Guide 5705.5: Cooperative Share Loan eligibility
This section contains requirements related to:
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 5705.5 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- (a) Occupancy requirement for Cooperative Unit
- (b) Loan-to-value (LTV) ratios for Cooperative Share Loans
- (c) Borrower qualification
- (d) Maximum Pro Rata Share
- (e) Subordinate financing
- (f) Cooperative Share Loans subject to stock transfer fee (“flip tax”)
- (g) Cooperative Share Loan lien priority
- (h) Cooperative Corporation’s approval
- (i) Cooperative Project that is not a Cooperative Housing Corporation
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.