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Clarification on EDR Default Action Codes for Extend Modification

March 1, 2018

In response to your feedback, we're clarifying required Electronic Default Reporting (EDR) default action codes for notifying us that a borrower has entered a Trial Period Plan for the Extend Modification for Disaster Relief (Extend Modification). The Extend Modification was introduced, along with detailed requirements, in Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-25.

For certain requirements already defined for all modification options, Guide Bulletin 2017-25 referred you back to the requirements included in Guide Sections 9206.11- 9206.18. However, based on conversations with some of you, the instructions in the Guide for EDR do not explicitly reference the Extend Modification.

In response to your questions, we're clarifying the following, which will be included in a future Guide Bulletin:

  • When reporting an Extend Modification Trial Period Plan to Freddie Mac, Servicers must use EDR default action code "BF – Standard Modification Trial Period."
  • As described in Guide Section 9206.13(a), you must continue to use the "BF" default action code when reporting:
    • Freddie Mac Flex Modifications, regardless of whether the evaluation required a complete Borrower Response Package.
    • Capitalization and Extension Modification for Disaster Relief (Disaster Relief Modification).
  • To the extent that the Servicer still has active Streamlined Modification Trial Period Plans to report, the Servicer must continue to use the "TM – Alternative Modification Trial Period" default action code.
    • NOTE: Evaluations for Streamlined Modifications must have been completed before October 1, 2017, and all evaluations after that time should be for the Flex Modification and should be reported using the “BF” default action code.

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