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Temporary Hurricane Harvey and Irma Requirements in Guide Bulletin 2017-19

September 13, 2017

Freddie Mac is committed to ensuring that borrowers receive the mortgage assistance needed to mitigate the devastating impacts of recent hurricanes. In today's Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-19 we're announcing temporary changes to our Selling and Servicing requirements related to Hurricanes Harvey and Irma.

We're announcing the following temporary changes and reminders:

For Sellers

  • Age of documentation requirements apply to mortgages secured by properties located in Eligible Disaster Areas affected by Hurricane Irma that have application received dates on or before, and note dates after, September 10, 2017.
  • Special requirements and guidance related to mortgages secured by properties located in Eligible Disaster Areas affected by Hurricane Irma, including:
  • Property damage by the hurricane
  • Acceptability of Automated Collateral Evaluation appraisal waivers
  • Collateral representation and warranty relief
  • Information on system updates.
  • Reminders related to Freddie Mac Relief Refinance MortgagesSM secured by properties affected by disasters.
  • All temporary requirements and effective dates announced in Guide Bulletin 2017-16 related to Selling requirements for mortgages secured by properties affected by Hurricane Harvey remain in effect as announced, except as specified in today's Guide Bulletin.
  • Guidance regarding cash contracts.

For Servicers

  • Servicers must follow the disaster requirements set forth in Guide Chapter 8404 when Servicing mortgages for borrowers whose mortgaged premises or places of employment are in Eligible Disaster Areas, except with respect to:
  • A temporary suspension of foreclosures through December 31, 2017, superseding the 90-day suspension previously announced in Guide Bulletin 2017-14, and new guidance on when this suspension does not apply to certain vacant or abandoned properties. We're also suspending eviction activities on real estate owned properties in impacted areas until further notice.
  • Freddie Mac's reimbursement of property inspections completed on properties located in eligible disaster areas affected by Hurricanes Harvey and Irma, and requirements on when Servicers should order exterior or interior property inspections.

For More Information

  • Read Guide Bulletin 2017-19.
  • Visit Freddie's Mac's Natural Disaster Relief web page.
  • Contact your Freddie Mac representative.

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