Freddie Mac issued Bulletin 2021-14: Servicing Updates (Bulletin) introducing updates that provide opportunities to streamline processes and support responsible lending. Per the Bulletin, Freddie Mac:
- Adjusted the modification loss amount calculation used for the modifications of a mortgage subject to an indemnification agreement (to more closely align with the calculation used to assess the impacts of modifications for mortgages included in Structured Agency Credit Risk transactions);
- Removed requirements with respect to Community Land Trust mortgages;
- Removed a requirement with respect to eMortgage legal referrals; and
- Clarified the scope of required legal review for lost note affidavits.
All updates are effective immediately.
Click to view the Freddie Mac Bulletin 2021-14: https://www.tenaco.com/wp-content/uploads/2021/04/Freddie-Mac-Guide-Bulletin-2021-14-04-14-21.pdf
