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Guide Bulletin 2013-14 Revises Performance Standards to Optimize Borrower Outcomes

July 31, 2013

In Single-Family Seller/Servicer Guide (Guide) Bulletin 2013-14,we are:

• Eliminating the performance standards for the complete Borrower Response Package (BRP) and Delinquency Improvement, effective for all collection periods with a start date on or after August 1, 2013.
• Discontinuing the assessment of compensatory fees for Servicers that do not meet the minimum BRP performance benchmark, effective for all collection periods with a start date on or after March 1, 2013.
• Continuing to pay $500 incentives to Servicers for BRPs that meet or exceed the BRP benchmark, effective for all collection periods with a start date prior to August 1, 2013.
• Increasing the Servicer incentive by $500 per tier for mortgages with Home Affordable Mortgage Program® (HAMP) modification effective dates on or after April 1, 2014.

We are making these changes to encourage Servicers to focus on long-term solutions to resolve borrower delinquencies and optimize borrower outcomes through completed workouts. Servicers must continue to follow Guide requirements and collect completed BRPs to evaluate workout solutions where required.

Here’s a summary of the BRP changes:

Elimination of Performance Standards for Complete BRP and Delinquency Improvement

Training and Resources

Servicers are encouraged to visit the Freddie Mac's Learning Center for current information on Freddie Mac training programs and references tools.

For More Information

• Read the Guide Bulletin 2013-14.
• Contact your Freddie Mac representative or 800-FREDDIE.