Servicing Alignment Initiative
Register Today for Our Suite of Instructor-led Webinars on the Servicing Alignment Initiative
From borrower contact to foreclosure timelines, these tailored interactive sessions will help you prepare for the recently announced comprehensive changes to our default management requirements. Start with our overview session to build a foundation and increase your knowledge with four additional subject specific training opportunities.
Through the joint-GSE Servicing Alignment Initiative, Freddie Mac implemented a new set of consistent mortgage loan servicing and delinquency management requirements. Overall, we believe that these consistent servicing standards will further enhance Freddie Mac and our Servicers’ mutual goal of quality and responsible servicing, while strengthening assistance for delinquent borrowers.
When fully implemented, Servicers will manage delinquent loan servicing under a new set of GSE-aligned requirements for the following:
Borrower Contact
- Consistent standards and benchmarks for maintaining a call center and other contact method service levels
- Standardized Borrower Solicitation Package
- Aligned requirements for establishing Quality Right Party Contact
Delinquency Management
- Consistent content and timing requirements for borrower disclosures and written communications
- Standard delinquency management from collection calls to foreclosure referral
- Consistent process for reviewing and escalating borrower complaints and disputes
- Aligned property inspection requirements and timeframes
Loan Modifications
- Consistent borrower evaluation hierarchy and process
- Freddie Mac Standard Modification
- Freddie Mac Streamlined Modification
- Disaster Relief Modification – New
Foreclosure Process Time Lines
- Uniform time lines from referrals to foreclosure sales
- Standardized exceptions to time lines
Incentives and Compensatory Fees
- Incentives paid for meeting quality benchmarks for receiving completed Borrower Response Packages
- New incentive amounts for settled Standard Modifications
- Compensatory fees applied for exceeding foreclosure time lines due to unapproved delays
Resources
- Borrower Solicitation Documents
- Freddie Mac Standard Modification
- Freddie Mac Streamlined Modification
- Disaster Relief Modification – New
- Frequently Asked Questions
- Borrower Contact Fact Sheet
- Servicing Alignment Initiative Training
- FHFA Press Release
Guide Bulletins
- Guide Bulletin 2013-15
- Guide Bulletin 2013-14
- Guide Bulletin 2013-5
- Guide Bulletin 2013-3
- Guide Bulletin 2012-13
- Guide Bulletin 2011-23
- Guide Bulletin 2011-19
Single-Family Updates and News Articles
- August 15, 2013 – New Disaster Relief Requirements and Updates to Improve Servicer Processes Announced in Guide Bulletin 2013-15
- July 31, 2013 – Guide Bulletin 2013-14 Revises Performance Standards to Optimize Borrower Outcomes
- March 27, 2013 – Guide Bulletin 2013-5 Announces Requirements for Streamlined Modification and Updates to Standard Modification Requirements
- June 13, 2012 – Guide Bulletin 2012-13 Announces Process Updates Affecting Servicers
- November 18, 2011 – Guide Bulletin 2011-23 Offers Servicers Greater Servicing Efficiencies
- October 26, 2011 – Guide Bulletin 2011-19 Updates Servicing Alignment Initiative Requirements and HAMP Servicer Incentives