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Step 1 – Prepare for Settlement

Once you’ve modeled the workout option in Workout Prospector® and have received approval to settle the transaction, you may transmit the settlement data to Freddie Mac using the appropriate settlement screen in Workout Prospector.

Modifications

Current Programs

Freddie Mac Flex Modification
   - Seller/Servicer Guide Section  9206.5

Disaster Relief Modification
   -Seller/Servicer Guide Section 9206.4

Cramdowns
   -Seller/Servicer Guide Section 9401.8

Retired Programs

Home Affordable Modification Program  
   - Seller/Servicer Guide 9205

Freddie Mac Standard Modification
   - Seller/Servicer Guide 9204

Freddie Mac Streamlined Modification
   - Seller/Servicer Guide 9206.3

Freddie mac My City Modification
   - Seller/Servicer Guide 9206.1

Liquidations

Short Sale
Seller/Servicer Guide Section 9208

Deed-in-Lieu
Seller/Servicer Guide Section 9209

Third Party Sale
Seller/Servicer Guide Section 9301.43

Charge-Off
Seller/Servicer Guide Section 9210


How to Submit Workout Settlement Documents (if applicable)

If we need to request documentation to assist you in settling your workout, you may submit your workout settlement documents to us via email or through Blitzdocs. BlitzDocs is the electronic document management system Freddie Mac uses to store settlement documents. Use the following guidelines when preparing to submit your workout documents:

Email:  Email your documents to NPL_Settlement@freddiemac.com.

  • Send a separate email for each workout to be settled.
  • The email subject line must contain the Freddie Mac loan number and the type of workout for which you are providing workout settlement documents.

BlitzDocs: Upload your own settlement documents to the appropriate BlitzDocs folder using the following steps:

  • Upload document(s) and select the appropriate document type from the “Workout Type” dropdown menu or enter the document name in the “Title” field.
  • Under Seller Servicer Doc Status select “Final Docs” and click the Submit button.

Resources

Our Workout Prospector Users’ Guide provides guidance and detailed information on how to enter data into Workout Prospector, analyze the model, and transmit it to Freddie Mac.

 


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