FHLMC Guide Bulletin 2016-18: Freddie Mac Principal Reduction Modification Update
Investor Update
September 21, 2016
In Single-Family Seller/Servicer Guide (Guide) Bulletin 2016-18 [pdf], we’re announcing new Form 1205-PR, Post Settlement Correction Request for the Principal Reduction, to facilitate the processing of the Freddie Mac Principal Reduction Modification.
Effective October 1, Servicers must follow the new submission requirements for Form 1205-PR, which are included in this Guide Bulletin, along with Form 1205-PR as Attachment A.
Freddie Mac Outreach to Borrowers
Visit our temporary Principal Reduction Modification web page, which we created to help you with borrower inquiries. Learn about our outreach efforts to borrowers, including borrower letter/call campaigns, in-person events, online resources, and more! The national letter/call campaigns are underway now through November.
For More Information
- Read our Single-Family News Center article on the Principal Reduction Modification, announced in Guide Bulletin 2016-7 [pdf].
- Check out our Summary of Upcoming Requirement Changes [pdf] document.
- Contact your Freddie Mac representative.
Source: Freddie Mac