Freddie Mac issued Guide Bulletin 2016-13 (Bulletin). The Bulletin: provides servicers additional flexibility when filing for relief from the automatic stay of bankruptcy; removes the need to suspend foreclosure proceedings in certain instances upon receipt of a complete Borrower Response Package; eliminates the need to separately track senior subordinate mortgages and allows more flexibility in their transfer; provides greater clarity on expectations for property valuations when evaluating borrowers for certain loss mitigation options; and amends requirements with respect to obtaining Freddie Mac’s prior approval before starting or intervening in certain legal actions or strategies.
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
