Guide Bulletin 2018-11: Service Loans Application Update Postponed and STOS Moratorium Moved
July 6, 2018
Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-11 announces that updates to the Service Loans application originally scheduled for July 23, 2018 have been postponed and will now be implemented on August 13, 2018.The updates are related to:
- Requests for subsequent transfers of servicing (STOS)
- Requests by a Servicer that wishes to move the servicing related to specific mortgages from one Seller/Servicer number to another (“intra-servicer portfolio move”)
As a result, the temporary moratorium on STOS and intra-servicer portfolio move requests and updates to existing requests has been moved to July 30, 2018 through August 12, 2018.
A few things to know about the moratorium
- Any Freddie Mac-approved STOS request with an effective date of transfer of August 16, 2018 will not be impacted by the temporary moratorium.
- If you would like to request a STOS with an effective date of September 16, 2018, please submit Form 981 no later than July 29, 2018.
- If you would like to request an intra-servicer portfolio move with an effective date of September 16, 2018, please submit Form 982 no later than July 29, 2018.
- The moratorium will only affect STOS and intra-servicer portfolio move processing in the Service Loans application. This functionality will be disabled, under the “Create New TOS Request”.
- You’ll be able to use all other functions of the Service Loans application, such as cash remittance reporting and EDR reporting, as these will not be impacted during the moratorium.
For More Information
- Refer to Guide Bulletin 2018-11
- Contact your Freddie Mac representative