Freddie Mac issued Bulletin 2024-02 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac added specificity regarding a lender’s responsibility to ensure that mortgaged premises are covered by adequate insurance. In addition, Freddie Mac updated Resolve with additional functionality to allow servicers to submit deed-in-lieu of foreclosure recommendations to Freddie Mac in the Resolve User Interface. Revisions related to adequate insurance are effective for mortgages with insurance policies renewed or obtained on or after June 1, 2024 (servicers are, however, encouraged to implement the revisions immediately). Revisions related to Resolve are effective March 25, 2024.
Click to view the Freddie mac Guide Bulletin 2024-02: https://www.tenaco.com/wp-content/uploads/2024/02/Freddie-Mac-Guide-Bulletin-2024-2-02-14-24.pdf
