This 2-hour webinar introduces Freddie Mac's borrower response and documentation requirements in support of the Servicing Alignment Initiative. Loss mitigation staff will learn about new performance benchmarks for receiving all documentation and information necessary to evaluate the borrower for all foreclosure alternatives. Learn about the new streamlined requirements to assist in the evaluation process and borrower communication.
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
Attend the companion webinar Servicing Alignment Initiative: Borrower Communication and Solicitation Requirements
Course materials will be e-mailed to attendees prior to the start of the session
Objectives:
Understand how to apply Freddie Mac requirements regarding the updated documentation and communication for evaluating borrowers for all foreclosure alternatives.
Topics:
Updated evaluation hierarchy for all foreclosure alternatives
New standard Borrower Response Package documentation
New performance benchmarks including related incentives/compensatory fees
Electronic Default Reporting requirements
New receipt and evaluation of the Borrower Response Package timelines and acknowledgement requirements
Requirements for reviewing and responding to borrower disputes and complaints
Borrower Response and Documentation Requirements