Freddie Mac issued Bulletin 2023-17 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac retired:
- Default reason code 032 for reporting new delinquencies related to COVID-19;
- The limited Quality Right Party Contact for certain COVID-19 loss mitigation evaluations;
- all COVID-19 forbearance requirements, including evaluations for new forbearance plans and evaluations for extensions to existing COVID-19 forbearance plans; and
- All requirements pertaining to the COVID-19 Payment Deferral, and the COVID-19 provisions for the Flex Modification.
Freddie Mac also increased the reimbursable expense limits for several expense codes associated with the preservation and maintenance of abandoned property. In addition, Freddie Mac increased the reimbursement amounts for attorney fees associated with uncontested foreclosures in Colorado, Delaware, Florida, Montana, New York, New York City, North Dakota, Washington, and Wyoming.
The servicing policies and flexibilities related to COVID-19 described above will be retired as of November 1, 2023. All other revisions are effective August 9, 2023.
Click to view the Freddie Mac Guide Bulletin 2023-17: https://www.tenaco.com/wp-content/uploads/2023/08/Freddie-Mac-Guide-Bulletin-2023-17-08-09-23.pdf
