Freddie Mac issued Guide Bulletin 2016-13 (Bulletin). The Bulletin: provides servicers additional flexibility when filing for relief from the automatic stay of bankruptcy; removes the need to suspend foreclosure proceedings in certain instances upon receipt of a complete Borrower Response Package; eliminates the need to separately track senior subordinate mortgages and allows more flexibility in their transfer; provides greater clarity on expectations for property valuations when evaluating borrowers for certain loss mitigation options; and amends requirements with respect to obtaining Freddie Mac’s prior approval before starting or intervening in certain legal actions or strategies.
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
