FHLMC Guide Bulletin 2015-15 Increasing Modification Eligibility and More
Investor Update
September 9, 2015
In today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2015-15, we announced updates to borrower eligibility for modifications and requirements related to Freddie Mac Default Legal Matters.
Key highlights include:
- Updates to the mark-to-market loan-to-value ratio calculation for Freddie Mac Standard and Streamlined Modifications to enable more borrowers to qualify.
- Expanded eligibility requirements for Streamlined and MyCity Modifications to maximize modification options for severely delinquent borrowers.
- Greater flexibility for Servicers when handling Freddie Mac Default Legal Matters related to bankruptcy referrals.
- Updates to Freddie Mac Accounts Receivables email addresses.
Please read Guide Bulletin 2015-15 for more details.
Reminder: Beginning September 1 – as announced in Guide Bulletin 2015-9 [pdf] – all appeals for late foreclosure sale reporting compensatory fees must be submitted through the Freddie Mac Default Fee Appeal System.
For More Information
- Read Guide Bulletin 2015-15 [pdf].
- Review the updated At-A-Glance: Modification Comparison [pdf] job aid.
- Check out our Summary of Upcoming Requirement Changes [pdf] document.
- Visit Freddie Mac’s Learning Center for more on our training programs and references tools.
- Contact your Freddie Mac representative.
Source: Freddie Mac