Subsequent Transfers of Servicing, Modifications and More in Guide Bulletin 2018-6
April 11, 2018
With Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-6, we’re making changes to simplify the user experience and provide greater efficiency when servicing Freddie Mac mortgages. The changes include:
- Automating subsequent transfers of servicing requests and approvals.
- Introducing a new process to facilitate the move of servicing of one or more mortgages from one Seller/Servicer number to another (“intra-servicer portfolio move”).
- Providing more specific guidance regarding cancelations of borrower-paid mortgage insurance.
- Updating our mortgage modifications requirements related to:
- Home Affordable Modification Program℠ (HAMP®).
- Escrow shortage and advance repayment.
For details on these changes and other important updates, read Guide Bulletin 2018-6 or contact your Freddie Mac representative.