Freddie Mac issued Bulletin 2023-20 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac:
- Updated Resolve with additional functionality to allow servicers to submit charge-off recommendations to Freddie Mac in the Resolve User Interface;
- Amended minimum requirements for all law firms selected and retained for default-related legal services;
- Updated Section 2406.4 (Managing access to and obtaining a property value via BPODirect) to require servicers to ensure that the information provided for the purpose of obtaining a property value (including the address of the mortgaged premises) is true, complete and accurate; and
- Provided an operational clarification on loans receiving ineligible findings in Resolve for the expanded Payment Deferral.
Revisions related to Resolve are effective October 30, 2023. Revisions related to firm minimum requirements are effective February 1, 2024 (servicers are encouraged to implement immediately if they are operationally able to do so). All other revisions are effective immediately.
Click to view the Freddie Mac Guide Bulletin 2023-20: https://www.tenaco.com/wp-content/uploads/2023/10/Freddie-Mac-Guide-Bulletin-2023-20-10-11-23.pdf
