Freddie Mac issued Bulletin 2022-17 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac added a requirement for servicers to maintain the following fair lending data elements in a queryable format for each mortgage loan, if obtained during the origination process: race of borrower(s); ethnicity of borrower(s); age of borrower(s); gender of borrower(s); and preferred language of borrower(s). In the event of a post-delivery servicing transfer, the transferor servicer must deliver to the transferee servicer the fair lending data elements in a queryable format for each mortgage loan, if obtained during the origination process. In addition, Freddie Mac updated requirements with respect to the amount a borrower must pay to reduce the unpaid principal balance before a servicer may approve a partial release or grant of an easement. Revisions related to the fair lending data element requirements are effective for mortgage loans originated on or after March 1, 2023. All other updates are effective August 10, 2022.
Click to view the Freddie mac Guide Bulletin 2022-17: https://www.tenaco.com/wp-content/uploads/2022/08/Freddie-Mac-Guide-Bulletin-2022-17-08-10-22.pdf
