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Servicing Guide Bulletin and Additional Information Regarding Hurricane Harvey

August 29, 2017

Freddie Mac is committed to helping borrowers receive the mortgage assistance they need to mitigate the devastating impacts of Hurricane Harvey. We provide you with options to assist borrowers whose homes or places of employment are located within Eligible Disaster Areas and appreciate your help during this difficult time.

Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-14

To ensure that borrowers continue to receive the assistance they need, we're announcing a temporary suspension of foreclosures and evictions. Additionally, Freddie Mac will work with you so that property inspection costs resulting directly from Hurricane Harvey will not be passed on to the affected borrowers.

All changes announced in this Guide Bulletin are effective immediately.

Please read Guide Bulletin 2017-14 for specific requirements.

Next Steps for Servicers

All Freddie Mac Servicers should respond to borrower requests for assistance using the options available to you through our Guide Bulletin. Other than the temporary measures being announced, all other disaster relief requirements and options have not changed.

You should immediately begin following the disaster relief requirements outlined in Guide Chapter 8404, 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 address each borrower's specific financial hardship and 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 Chapter 8404.
  • Determine the number of impacted properties and assess the extent of the damage caused by the major disaster.
  • Consider borrowers who work in eligible disaster areas but have homes in unaffected areas for Freddie Mac's disaster relief policies, which include forbearance or mortgage modifications.

Special Relief Consideration

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

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