Freddie Mac issued Bulletin 2020-7: Servicing Requirements and Relief Related to COVID-19 (Bulletin). The Bulletin sets forth changes to EDR (Electronic Default Reporting) requirements, establishes temporary relief from certain property inspection and property preservation requirements, and clarifies requirements with respect to streamlined Flex Modifications. The Bulletin also reminds Servicers of existing outreach and collection techniques for servicing delinquent mortgages. In addition, the Bulletin notifies Servicers of the annual reporting deadline extension (to April 30, 2020) and reminds Servicers of electronic records and business continuity plan requirements. The Bulletin is effective immediately.
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