Updates to Sellers for Cash Servicing-Released Execution
October 31, 2012
We are pleased to announce that we will begin working with Nationstar Mortgage. Beginning November 1, 2012, Nationstar Mortgage will accept commitments to purchase servicing through our Cash Servicing-Released execution. Nationstar has been a national mortgage lender and servicer since 1997.
Central Mortgage Company will continue to acquire servicing in our Cash Servicing-Released execution as they have since 2004. Through Nationstar Mortgage and Central Mortgage Company we will continue to offer a reliable execution and market liquidity for our Cash Servicing-Released customers.
We also want to inform you that U.S. Bank expects to cease acquiring new servicing through the Cash Servicing-Released execution by December 31, 2012. U.S. Bank has been a servicer in the program since 2002. They will continue to service loans currently on their books and will fulfill their commitments to acquire new servicing on loans already in their pipeline. Although U.S. Bank will no longer be acquiring new servicing through the Cash Servicing-Released execution, they will continue to be a valuable Freddie Mac Seller/Servicer. We appreciate the support they have provided through this program over the past 10 years.
Freddie Mac’s Cash Servicing-Released execution is a competitive cash execution available through the Freddie Mac selling system. The program offers our Sellers the option to sell one, a few, or many loans for cash, while concurrently releasing servicing and providing necessary liquidity in order to fund more mortgages. Read more about this execution.