Did We Grant That Exception?!
NALT purchase from dad. Local farmer has rented a small portion of the land for the last 11 years. Borrower states they do not intent on renewing the lease. Lease ended 11/30/25 with appraisal completed 11/26/25. Recommended approval due to stated intention of future use (not to farm).
No! We did not approve this exception. Subject property was 98 acres, owned by family with an extensive history of being farmed and with considerable acreage currently allocated towards agricultural use.
Purchase transaction with borrower requesting an escrow holdback for a septic system. An inspection was received indicating the septic system is functional- just may not meet code.
No! While the borrower is asking for an escrow holdback there were no actual appraisal required repairs therefore no exception was needed. We advised that the title company could agree to handle this in a secondary escrow outside of our transaction or that the parties could revisit purchase agreement terms.
Conventional purchase with a 2-unit property and an ADU.
Yes! The Freddie Mac selling guide allows legal multi-unit properties with a single ADU so long as the total number of units does not exceed 4. Example: legal 3-unit + an ADU.
There's a manufactured home with an accessory dwelling unit! The ADU is stick built and subordinate in size to the primary manufactured dwelling.
Yes! Freddie selling guide actually allows for a manufactured dwelling with an ADU so we were able to close on Freddie conventional with the exception approved.