Minimize your information security risks by protecting your borrowers’ personal data

Throughout the financial industry there is heightened awareness and greater scrutiny being placed on protecting borrowers’ personal information. Ensuring you are vigilant in protecting your borrowers’ personal data whether it’s for loans you originate, or for loans you service, is vital in managing your customer relationships, as well as for complying with regulatory requirements.

Each time you gather, transmit, or access borrowers’ personal data you must manage the security of their information, including ensuring the information is protected from security breaches or other forms of unauthorized access. 

As a reminder, Freddie Mac requires all Sellers and Servicers to comply with all applicable privacy laws and regulations as they pertain to Freddie Mac-owned mortgages.  Be sure that you are taking the appropriate steps required to adopt policies and procedures to safeguard your borrowers’ personal information in accordance with all applicable laws and as outlined in our Single-Family Seller/Servicer Guide (Guide). 

The Guide also outlines specific requirements for Freddie Mac Servicers as it relates to maintaining the privacy of borrowers’ personal information, and taking certain actions in terms of notice and cooperation in the event their data is compromised.

For more information

Refer to Guide Chapters 6, 51, and 53 for details on our privacy-related requirements.