Freddie Mac issued Bulletin 2019-2 (Bulletin), providing guidance related to the federal government shutdown. Per the Bulletin, borrowers impacted by the federal government shutdown meet forbearance requirements under Freddie Mac’s “Reduction in Income” hardship. Servicers must work with impacted borrowers that are unable to make their mortgage payments to ensure the borrower is evaluated for a forbearance plan. In addition, the Bulletin clarifies Freddie Mac’s expectations and requirements with respect to credit reporting in connection with mortgages made to government employees and other workers impacted by the federal government shutdown.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
