Updates to Short Sales and DILs in Guide Bulletin 2014-10
June 3, 2014
Your opinion is valuable to us. That's why your feedback over the past year helped influence some of the servicing requirement changes in today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2014-10. We made over 15 Guide updates to provide you with more guidance and efficiency in the areas of fraud prevention, eligibility for service members, and borrower communications.
Because of the variety of information in this Bulletin, we've listed the topics here and ask that you read Guide Bulletin 2014-10 for complete information.
- Freddie Mac Standard Short Sales (short sales) and Standard Deeds-in-lieu of Foreclosure (DILs)
- Consumer Financial Protection Bureau Final Rules
- Unemployment Forbearance
- Guide Exhibit 93, Evaluation Model Clauses
- Distant Employment Transfer/Relocation
- Simultaneous Assumption and Modification
- Fraud Prevention – Many of our short sale and DIL updates in this Guide Bulletin are being made to aid in fraud prevention. Review our Freddie Mac Standard Short Sale FAQs and Fraud Prevention Best Practices for information on fraud prevention.
- Online Self-Service Password Reset – Create your online user profile today for Single-Family business applications. Click here for more information.
- Freddie Mac Interest Rate – Effective July 8, 2014, Freddie Mac will evaluate market rates and update the Freddie Mac Standard Modification interest rate, if necessary, on a monthly basis.