Multifamily Seller/Servicer Guide Chapter 61 Update

This document is a guide that outlines the environmental requirements for Seller/Servicers in the multifamily sector. It details the responsibilities of Seller/Servicers regarding environmental assessments, including the necessity of employing qualified environmental consultants to evaluate properties for potential environmental hazards. The guide specifies the process for conducting environmental assessments, preparing reports, and the necessary documentation required for mortgage purchases by Freddie Mac. It emphasizes the importance of due diligence in evaluating properties, including the need for inspections and inquiries to ascertain their true condition. Additionally, it addresses specific environmental concerns such as hazardous materials, storage tanks, and the presence of polychlorinated biphenyls (PCBs). The guide also includes information on the qualifications required for environmental consultants and the protocols for resolving identified environmental issues. Overall, it serves as a comprehensive resource for ensuring compliance with environmental standards in multifamily mortgage transactions.