FHLMC New Alternative to Foreclosure Reports

On August 31, Freddie Mac issued a servicing announcement entitled New Alternative to Foreclosure Pull-Through Reports.

New Alternative to Foreclosure Pull-Through Reports

You now have access to reports that track your ability to successfully transition newly 60-day delinquent borrowers into alternatives to foreclosure over a three-month period. As part of the Servicing Alignment Initiative, Servicers must achieve at least a 60 percent alternative to foreclosure pull-through rate.

These new reports are available via the Servicer Performance Profile web site.

  •  Click on “Foreclosure Alternatives- Servicer Family Level” to see your summary report. 
  •  Your summary report contains historical performance trends by month and by type of foreclosure alternative for 30-, 60-, and 90-day periods. 
  • Within the summary report, you can access downloadable loan-level detail reports of the initial mortgages that comprise the population of newly 60-day delinquent mortgages by month. Initially you will see data beginning in January 2012 and historical performance (90 days) for January, February and March collections. April, May, and June collection data will become available, respectively, with the release of July, August, and September servicing cycle performance data on the Servicer Success Scorecard.
  • Reinstatements, forbearance plans, repayment plans, payoffs, modifications, short payoffs and deeds-in-lieu of foreclosure are included in this performance standard. Trial period plans for Standard Modifications are included with data for Standard Modification mortgages, and trial period plans for Home Affordable Modification program (HAMP) Modifications are included with data for HAMP Modification mortgages. Loans in bankruptcy are excluded from this measurement.

Get More Information

To view the online announcement, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees  and a handful of contractors performing services in the Midwest, to a national company with nearly 1,000 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.

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