Freddie Mac: Flex Modification Resources
Investor Update
October 2, 2017
Last December, we announced the Freddie Mac Flex Modification®, which offers you an easier, flexible way to help borrowers qualify for a loan modification in a changing housing environment. Since then, we’ve sent you reminders and updates to prepare you for the October 1 mandatory evaluation date.
Now that you’ve begun evaluating borrowers for Flex Modification Trial Period Plans, we want to remind you that we offer training and resources to make your evaluations as smooth as possible going forward.
Flex Modification Training and Resources
- Training provides guidance and processing tips to help you achieve a successful settlement. Register now for a Flex Modification webinar.
- Workout Prospector® allows you to submit data relating to Flex Modification Trial Period Plans. Please reference the Workout Prospector Users’ Guide [pdf] and register now for a Flex Modification processing tutorial.
- Flex Modification FAQ [pdf]
- Flex Modification Fact Sheet [pdf]
- Flex Modification reference guide [pdf], and term sheet [pdf]
Please note that you’re no longer able to evaluate borrowers for Freddie Mac Standard and Streamlined Modifications.
- For More Information
- Visit Freddie Mac’s Freddie Mac Flex Modification web page.
- Review Single-Family Seller/Servicer Guide (Guide) Bulletins 2016-22 [pdf], 2017-1 [pdf] and 2017-5 [pdf] for detailed Flex Modification requirements.
- Contact your Freddie Mac representative.
Source: Freddie Mac