This 2-hour webinar introduces Freddie Mac's communication and solicitation requirements in support of the Servicing Alignment Initiative. Collections staff will learn about the new requirements for earlier and more frequent communication with delinquent borrowers, including new Call Center performance standards and benchmarks. Loss mitigation staff will learn about new solicitation requirements incorporating a standard Borrower Solicitation Package for all foreclosure alternative solutions.
Prerequisites:
This session is for employees of approved Freddie Mac Servicers only
Simultaneous access to the Internet to receive the visual presentation and a telephone to receive audio
Review the June 30th Single-Family Seller/Servicer Guide Bulletin
It is recommended that participants also register for the companion webinar Servicing Alignment Initiative: Borrower Response and Documentation Requirements
Course materials will be e-mailed to attendees prior to the start of the session
Objectives:
Be able to implement the new Freddie Mac requirements regarding communications to and solicitation of delinquent borrowers for all foreclosure alternative solutions.
Topics:
Revised collection requirements
Enhanced definition of right party contact
New Call Center standards and benchmarks
Revised breach letter requirements and late payment notices
Revised timing and frequency of borrower solicitation for foreclosure alternatives
New standard Borrower Solicitation Package
New uniform financial form: Borrower Assistance Form
Borrower Communication and Solicitation