Freddie Mac issued Guide Bulletin 2016-10 (Bulletin). Under the Bulletin, requirements related to the expiration of HAMP are updated. The Bulletin also extends the mandatory effective date for lender-placed insurance (LPI) deductibles for servicers that use American Modern Insurance Group (AMIG) as their LPI provider. The revised effective date is July 1, 2017. In addition, the Bulletin requires servicers to use IRS Form 1099-C when reporting a cancellation of debt in connection with a short sale (rather than IRS Form 1099-A).
Rural Housing Service
RHS Updates Monthly Electronic Status Reporting Codes
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing updated Electronic Status Reporting codes for mortgage servicers. Per the Notice, Default Status Code 10 was
September 23, 2024
