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Version 1 and Version 2 of the Selling Representation and Warranty Framework

The following tables summarize the differences between Version 1 and Version 2 of the framework for Freddie Mac Relief Refinance MortgagesSM and non-Relief Refinance Mortgages.

Mortgages Other Than Relief Refinance Mortgages
Relief Criteria Version 1  Version 2 
Effective dates Effective for mortgages sold on and after January 1, 2013, and before July 1, 2014. Effective for mortgages sold on and after July 1, 2014.
Number of required consecutive monthly payments after the Freddie Mac settlement date 36 36
Number of delinquencies permitted during first 36 monthly payments after the Freddie Mac settlement date in order to be eligible for relief after the 36th monthly payment 0 x 30 2 x 30 and 36th monthly payment is not delinquent
Opportunity to re-establish acceptable payment history if there were delinquencies in the first 36 monthly payments after the Freddie Mac settlement date Yes, as of the 60th monthly payment, provided no more than 2 x 30 delinquencies in first 36 monthly payments and 60th monthly payment is not delinquent. Not applicable
Eligible for relief after satisfactory conclusion of quality control review No Yes
Notification of relief available beginning 3rd quarter of 2014 Yes Yes

 

Relief Refinance Mortgages
Relief Criteria Version 1  Version 2 
Effective dates Effective for mortgages sold on and after January 1, 2013, and before July 1, 2014. Effective for mortgages sold on and after July 1, 2014.
Number of required consecutive monthly payments after the Freddie Mac settlement date 12 12
Number of delinquencies permitted during first 12 monthly payments after the Freddie Mac settlement date in order to be eligible for relief after the 12th monthly payment
0 x 30 0 x 30
Opportunity to re-establish acceptable payment history if there were delinquencies in the first 12 monthly payments after the Freddie Mac settlement date Yes, as of the 60th monthly payment, provided no more than 2 x 30 delinquencies in first 36 monthly payments and 60th monthly payment is not delinquent. Yes, as of the 36th monthly payment, provided no more than 2 x 30 delinquencies in first 36 monthly payments and 36th monthly payment is not delinquent.
Eligible for relief after satisfactory conclusion of quality control review No Yes
Notification of relief available beginning 3rd quarter of 2014. Yes Yes

NOTE: Other provisions of the selling representation and warranty framework described in Single-Family Seller/Servicer Guide Section 6.14, Enforcement of Representations and Warranties Related to Underwriting of the Borrower, Mortgaged Premises and Project, have not changed and remain applicable under both versions of the framework.

 

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