Improvements for Tracking and Certifying Property Repairs
June 26, 2013
We have a shared goal of providing the best possible post-funding experience to the borrower. In order to deliver on this type of customer service, we must ensure the integrity of loan level data. Tracking and certifying the completion of property repairs is another way that together we can meet borrower expectations.
Format Improvements for Repair Completion Certifications
The Repair Rider of the Freddie Mac Loan Agreement lists all repair items and the timeframe in which the borrower is required to complete them post-closing. You’ve been documenting the repair work on our certification forms for all types of Freddie Mac Mortgages. Per your request, we are improving this process by making the certification forms available to you in a new way. You can now download online the following Borrower Certifications as a fillable PDF directly from the Asset Management Resource Center:
- Borrower Certification of Completion – Submit when all repairs have been completed
- Borrower Certification of Partial Completion – Submit when some of the repair items have been completed, but there are still a few items outstanding
These new certification forms in a fillable PDF will make documenting repair completeness much easier for you and your borrower.
Submission Reminders for Repair Completion Certifications
Below are some reminders to use when submitting information related to repairs and their completion.
- In following with the requirements for repairs, loans with completed repairs require a signed Borrower Certificate of Completion certifying that all repairs, as shown in the Repair Rider Exhibit, have been completed.
- When all required repair items cannot be completed within the specified due date, a signed Partial Borrower Certificate of Completion is required, detailing which repairs as shown in the Repair Rider Exhibit have been completed and which items require extensions.
- All certified forms must be uploaded to our Document Management System (DMS) into the Repair Document Type.
- Continue to use the Repair Extension/Modification Form to request an extension or modification of repair items.
If you have any questions about the tracking or certifying the completeness of repairs, please send an email to MF_Asset_Performance@Freddiemac.com.