Freddie Mac issued Bulletin 2022-8 (Bulletin) announcing temporary guidance related to foreclosure actions and the Homeowner Assistance Fund (HAF). Per the Bulletin, servicers must suspend all foreclosure actions (including the initiation of any judicial or non-judicial foreclosure process, any move for foreclosure judgment or order of sale, or any foreclosure sale) for up to 60 days if:
- the servicer is notified that the borrower has applied for assistance under HAF;
- any foreclosure proceeding or execution of a foreclosure sale can be delayed without dismissal of the foreclosure action;
- the servicer has sufficient time to suspend initiation of the foreclosure process or suspend moving for a foreclosure judgment or order of sale; and
- in the case of a foreclosure sale, the servicer is notified at least 7 days before the sale.
A servicer must document why the foreclosure action was unable to be delayed if the servicer determines there was insufficient time to suspend the foreclosure action.
The Bulletin is effective immediately.
Click to view the Freddie Mac Bulletin 2022-8: https://www.tenaco.com/wp-content/uploads/2022/04/Freddie-Mac-Guide-Bulletin-2022-8-04-06-22.pdf
