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Creating a Better Loan Assumption Process for Borrowers

May 4, 2015

Our Freddie Mac Servicing Standard means ensuring a positive borrower experience through the life of the loan – and loan assumptions are a key example. While assumptions are handled after origination, Production – both at the Seller and at Freddie Mac – still plays an essential role by managing borrower expectations and creating a better feedback loop.

We recently held an Assumption Summit with senior Production and Servicing representatives from selected customers to discuss assumption best practices, as well as better ways to increase communication and transparency in the process. Two key themes around marketing and education clearly emerged. As a result, we have created two communication tools for you to share with borrowers to help ensure a smooth loan assumption process as well as what the expectations for a complete assumption package look like:

Both of these documents are available on the Originate and Underwrite, Originate and Underwrite for TAH, and Asset Management pages.

If you have any questions, feel free to contact your Freddie Mac representative.

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