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Freddie Mac Disaster Relief Policies

June 4, 2015

When disasters like the severe storms in Texas and Oklahoma occur, we give you options to offer temporary relief to impacted borrowers who are trying to pay their mortgage.

We ask all Freddie Mac Sellers and Servicers to respond to borrower's assistance requests using the options available to you through our Single-Family Seller/Servicer Guide (Guide). Please note that our disaster relief requirements and options have not changed. For a reminder of those requirements and options, please read below.

Next Steps for Servicers

Servicers should immediately begin following the disaster relief requirements outlined in Guide Chapter 68, which include:

  • Obtaining quality right party contact as soon as possible.
  • Short-term suspension of collection and foreclosure proceedings for up to 12 months from the date a disaster strikes to help accommodate financial hardship, based on each borrower's specific circumstances.
  • No assessment of late charges or reporting to credit repositories for borrowers on a forbearance plan or paying as agreed on a repayment plan.
  • Help with options for local, state, or federal disaster assistance.
  • Monitoring and coordinating the insurance claim process.

If you need to respond to assistance requests from impacted borrowers:

  • Refer to the general mortgage relief policies in Guide Chapters A65, B65 and C65.
  • Determine the number of impacted properties and assess the extent of the damage caused by the Texas and Oklahoma storms.

Special Relief Consideration

If you're faced with a unique situation that may warrant special relief consideration, Freddie Mac will review individual circumstances on a case-by-case basis.

For More Information

Please review these resources or contact your Freddie Mac representative to prepare for borrower inquiries.

  • Our press release.
  • Guide Chapters A65, B65, and C65 for general mortgage assistance policies.
  • Guide Chapter 68 for Servicer responsibilities.
  • FEMA's website to find out which locations are Major Disaster areas.

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