Freddie Mac issued Bulletin 2021-24 (Bulletin) announcing the expiration of the COVID-19 foreclosure moratorium and other servicing updates. Per the Bulletin, the foreclosure moratorium announced in Bulletin 2021-23 will expire on July 31, 2021. However, between July 31, 2021 and August 31, 2021 (the date the CFPB’s new COVID-19 Servicing rule goes into effect on), servicers are prohibited from making any new foreclosure referrals or first legal filings that would be prohibited by the CFPB’s COVID-19 Servicing rule. In addition, the Bulletin announced temporary changes to Freddie Mac Flex Modification for borrowers with a COVID-19 hardship, and updates to PAID (Payments Automated Intelligent and Dynamic). Revisions related to temporary changes to the Freddie Mac Flex Modification are effective August 31, 2021. Revisions related to PAID are effective August 01, 2021.
Click to view the Freddie Mac Guide Bulletin 2021-24: https://www.tenaco.com/wp-content/uploads/2021/07/Freddie-Mac-Guide-Bulletin-2021-24-06-30-21.pdf
