Revised Effective Date for Reimbursement Requirements
May 31, 2017 – In the April 20, 2017, Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-5, we announced an update to Freddie Mac’s reimbursement request requirements for expenses considered unrecoverable from the borrower under applicable federal, State or local law upon reinstatement or payoff of the Mortgage, or upon completion of a mortgage modification. Additional testing resulted in an effective date change for the associated enhancement to the Freddie Mac Reimbursement System. The effective date is now June 19, 2017 versus June 5, 2017.
If you need information regarding these specific updates to Freddie Mac's reimbursement request requirements, please refer to Guide Bulletin 2017-5 or contact your Freddie Mac representative.
The Freddie Mac Reimbursement System makes it easier to file and obtain reimbursement for your default management expenses.
The system is easy to navigate and allows you to perform all claim processes online and receive immediate feedback on the status of your claim. You can also generate key reports, including the Claims Submission Report and Billing Batch Upload Report, to effectively track default management reimbursement requests.
- Real-time decisions on submitted claims.
- Improved access to the status of a submitted claim.
- The ability to electronically attach any required expense documentation to the claim.
- Customized work queues that are designed to include specific criteria that can be filtered and viewed.
- Tools that can help track default management expenses.
- File upload capabilities.
- Customized user maintenance.