Freddie Mac issued Bulletin 2021-32 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:
- Revised lender/servicer and related third-party risk mitigation requirements;
- Increased fees for appraisals ordered through BPODirect;
- Adjusted the modification loss amount calculation for mortgages subject to an indemnification agreement;
- Removed a notification requirement for modifications to mortgages subject to active non-routine litigation;
- Clarified notification requirements related to the change of ownership at a foreclosure sale;
- Updated income documentation requirements for workout or relief options to clarify Servicers may use third-party vendors for verification of income;
- Revised lost note affidavit requirements;
- Updated requirements for additional permitted Transfers of Ownership;
- Updated Form 960 (Agreement for Concurrent Transfer of Servicing of Single-Family Mortgages) to include e-mail submission instructions.
Revisions with respect to lender/servicer and related third-party risk mitigation requirements are effective January 13, 2022. Revisions with respect to increased fees for appraisals ordered through BPODirect became effective June 15, 2021. All other revisions are effective immediately.
Click to view the Freddie Mac Guide Bulletin 2021-32: https://www.tenaco.com/wp-content/uploads/2021/10/Freddie-Mac-Guide-Bulletin-2021-32-10-20-21.pdf
