FHLMC Guide Bulletin 2017-22: Servicing Updates
October 11, 2017
We’re announcing the following Servicing updates in Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-22 [pdf].
- We’re eliminating the Imminent Default Indicator® model and replacing it with a more transparent, rules-based approach. Servicers must implement the new imminent default evaluation requirements no later than July 1, 2018, but may implement earlier once Workout Prospector® is updated.
We’ll notify Servicers when Workout Prospector will be updated and provide additional guidance on how to report imminent default data using Workout Prospector.
- We’re making changes to certain requirements related to the Servicemembers Civil Relief Act (SCRA) interest rate credits.
- Beginning on November 15, 2017, we will no longer provide Servicers with a paper copy of the property condition certificate. With this change, we’re revising our requirements for cancelling property insurance policies for REO properties.
- We’re updating Exhibit 88, Servicing Tools, as a result of the retirement of Remedy ManagerSM.
FYI: Upcoming Servicer Performance Profile Changes
Beginning October 31, we’re updating your Servicer Performance Profile to combine Servicer Success Scorecard and Manager Series reports into one single, holistic experience – making it easier to monitor and manage your performance.
Learn more about how accessing and interacting with your profile is changing.
For More Information
- Review Guide Bulletin 2017-22 [pdf] for details.
- Contact your Freddie Mac representative.
Source: Freddie Mac