Freddie Mac Industry Letter
On October 28, Freddie Mac published an Industry Letter to remind all customers to provide notification of ownership or organizational changes.
Reminder to Notify Freddie Mac of Organizational Changes
Today we published an Industry Letter to remind all our customers about our requirements to notify Freddie Mac if your company is undergoing ownership or organizational changes.
With increased activity in mergers and acquisitions in the mortgage industry, we need to know about changes in your organization that could impact the business you do with Freddie Mac. For example, if a non-Seller/Servicer acquires a Freddie Mac Seller/Servicer, the acquiring entity is not automatically approved, and failure to notify us could interrupt the customer’s ability to do business with us while the acquiring entity completes the application process.
The Industry Letter reiterates our requirements in Single-Family Seller/Servicer Guide Sections 4.11-12, regarding:
- Ownership and organizational changes.
- Regulatory actions.
- Transfer of assets.
- Contact information and other changes.
The Industry Letter also highlights Guide Form 1107SF, Seller/Servicer Change Notification Form and the ways you can transmit this form to us.
For More Information
- October 28, 2014, Industry Letter [pdf].
- Contact Customer Support (800-FREDDIE).
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Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally.