Freddie Mac issued Bulletin 2019-6 (Bulletin), announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac updated requirements relating to: the Servicer Success Scorecard; the Servicer Honors and Rewards Program (a new rewards and recognition program based on servicer performance results); the investor reporting change initiative (scheduled to become effective on May 1, 2019); post-settlement data corrections; 12-month occupancy waiver requests; bankruptcy legal fees when filing a Mortgage Proof of Claim Attachment (Form 410A); Certificates of Incumbency forms (Forms 988SF-1, 988SF-2 and 989SF); property insurance; and servicer responsibilities in connection with REO properties (including the elimination of several property management activities required of servicers). Revisions with respect to REO properties are effective for a foreclosure sale held, or a deed-in-lieu of foreclosure executed, on or after July 15, 2019 and all active REO properties as of July 15, 2019. Updates related to the investor reporting change initiative are effective May 1, 2019. Updates related to post-settlement data corrections are effective July 1, 2019 and September 1, 2019. All other changes are effective immediately.
Rural Housing Service
RHS Updates Monthly Electronic Status Reporting Codes
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing updated Electronic Status Reporting codes for mortgage servicers. Per the Notice, Default Status Code 10 was
September 23, 2024
