Freddie Mac issued Guide Bulletin 2018-22 (Bulletin), setting forth servicing updates to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated requirements pertaining to: short sales and standard deeds-in-lieu of foreclosure; properties impacted by disaster; the Capitalization and Extension Modification for Disaster Relief Evaluation Notice; borrower contact and property inspections following loan delinquency; servicer authority to execute documents when mortgages are assigned to Freddie Mac; and servicer indemnification of Freddie Mac. The updated requirements related to servicing properties impacted by disaster are effective December 1, 2018. The updated Capitalization and Extension Modification for Disaster Relief Evaluation Notice is effective January 1, 2019 (servicers are, however, encouraged to begin using the updated Notice immediately). The updated borrower contact and property inspection requirements are effective March 1, 2019 (servicers are, however, encouraged to implement the updates sooner). The updated short sale and standard deed-in-lieu of foreclosure requirements are effective September 1, 2019 (servicers may, however, implement the updates earlier if they are operationally ready to do so). All other updates are effective immediately.
Click Here to View the Freddie Mac Guide Bulletin 2018-22
