News & Updates

October 2009

Revised URLA (Form 65) New Effective Date

Freddie Mac, with the approval of the Federal Housing Finance Agency, has extended the required effective date of the Uniform Residential Loan Application (Form 65, 7/05 (rev. 6/09)) from January 1, 2010, to July 1, 2010. Although not required, loan originators may use the revised version of the Form 65, prior to January 1, 2010.

New Home Affordable Modification Program Announcement

In the Supplemental Directive 09-07, the United States Treasury announced new forms and procedures for implementing the Home Affordable Modification Program (HAMP). In the Directive, Treasury announced it was replacing the Home Affordable Modification Trial Period Plan (Form 3156, dated 3/09 (rev. 8/09)) with the HAMP Modification Request and Affidavit (MRA), attached as Exhibit A to the Directive on www.hmpadmin.com. The MRA has a mandatory use date of Marc.1.2010, but may be used immediately. Until that time, the Trial Period Plan may be used in accordance with the Directive.

August 2009 News & Update misprint

In our August 2009 News & Update posted below the revised Louisiana Mortgage tagline contains a misprint. The revised Louisiana Mortgage tagline will show a version date of (Form 3019 1/01 (rev. 8/09)) not (Form 3019 1/09 (rev. 8/09).

September 2009

Streamlined Modification Program Uniform Instruments No Longer Available

In our Single-Family Seller/Servicer Bulletin, dated March 11, 2009, we announced the replacement of our Streamlined Modification Program (SMP) with the Home Affordable Modification Program (HAMP). In that Bulletin we provided instructions to Servicers for working with Borrowers seeking to modify their loans to convert them from the SMP to the HAMP. At this time all Borrowers who were in some stage of the SMP process should have either completed the streamlined modification using SMP documents or have been converted to the HAMP. Accordingly, effective October 1, 2009, we are withdrawing the Streamlined Modification Program Loan Workout Plan Pending Rate Adjustment (Form 3167) and Streamlined Modification Program Loan Workout Plan and Modification Agreement (Form 3169) from the set of Uniform Instrument website documents.

Revisions to the Authorized Changes for Notes, And Security Instruments

Freddie Mac has added an optional Nevada Mortgage Broker language to the Authorized Changes for Notes and Authorized Changes for Security Instruments.

Originators are responsible for maintaining compliance with applicable laws and recording requirements when using the Uniform Instruments.

August 2009

Revised Home Affordable Modification Program Loan Workout Plan

Freddie Mac is posting revisions to the Home Affordable Modification Trial Period Plan (Form 3156, dated 3/09 (rev. 8/09)) and the Home Affordable Modification Agreement (Form 3157, dated 3/09 (rev. 8/09)). The revised documents (i) allow more flexibility to cover a wider range of special loan document features, thus reducing the number of authorized changes; (ii) provide more detail regarding certain terms and conditions, and (iii) obtain the borrower's consent to sharing of certain personal and financial first lien modification data with specified participants in the Home Affordable Modification Program. Freddie Mac is also posting Authorized Changes for the revised documents. The revised documents may be used immediately and become effective September 30, 2009. If you continue to use the earlier versions of the Trial Period Plan and Modification Agreement, you must make the authorized changes required for those documents.

Revised Louisiana Mortgage

Freddie Mac has revised the Louisiana Mortgage (Form 3019 1/01) to remove the repealed provision that required a lender’s tax ID number on the security instrument.

The revised Louisiana Mortgage tagline will show a version date of (Form 3019 1/09 (rev. 8/09).

The MERS Sample for Louisiana (Form 3019 1/01) has been revised to reflect the changes made to the Louisiana Mortgage.

The revised MERS Sample for Louisiana Mortgage tagline will show a version date of (Form 3019 1/09 (rev. 8/09).

In addition, the Spanish Sample for Louisiana (Form 3019 1/01) has been revised to reflect the changes made to the Louisiana Mortgage.

The revised Spanish Sample for Louisiana Mortgage tagline will show a version date of (Form 3019 1/09 (rev. 8/09).

Revisions to Authorized Changes Page for Notes, Property Type Riders, Security Instruments, and Modification/Special Purpose Documents

Please note that there have been technical corrections to the Authorized Changes pages on our website

June 2009

Revisions to the Uniform Instruments website

Freddie Mac has repositioned and redesigned our uniform instruments website. The uniform instruments link is now easy to find and access from the freddiemac.com Single-Family home page at www.freddiemac.com/singlefamily. The new layout was designed to help readers find loan documents quickly by categorizing the Notes, Security Instruments, and Riders for easier navigation. Our new look also eliminates excessive scrolling with subcategories. Additionally, we will continue to provide support to answer your uniform instruments questions, comments or concerns at uniform_instruments@freddiemac.com.

New Subordination Agreements

Freddie Mac has posted the new standard subordination agreement documents for resubordinating junior liens to first mortgages that are being refinanced or modified. These subordination agreements are expected to provide benefits to lenders and servicers who are originating or modifying mortgages as part of the Obama Administration Making Home Affordable program.

Revised Uniform Residential Loan Application

We have revised the Fannie Mae/Freddie Mac Uniform Residential Loan Application (Freddie Mac Form 65). The revisions addresses the new Federal Housing Finance Agency’s (FHFA) loan-level origination data requirements, announced in FHFA press release on January 15, 2009. We are making the revised Form 65 available to assist lenders in preparation for implementing the new requirements. The revised Form 65 must be used with loan applications originated beginning January 1, 2010, but may be used prior to that time.

April 2009

Revisions to Authorized Changes Page for Special Purpose Instruments

Freddie Mac's Authorized Changes for the Special Purpose Instruments has been updated.

Freddie Mac has added mandatory authorized changes for the Home Affordable Modification Trial Period Plan (From 3156) and Home Affordable Modification Agreement (Form 3157).

March 2009

On March 11, 2009 Freddie Mac introduced requirements for the Home Affordable Modification Program. To support this program, Freddie Mac is making the Home Affordable Modification Program Loan Workout Plan (Form 3156), available as an Uniform Instrument; this instrument must be used as step one of the two-step loan modification process offered through the program. Complete information about the Home Affordable Modification Program is available in the Freddie Mac March 11, 2009 Seller Servicer Guide Bulletin.

Please note the Streamlined Loam Modification Program (SMP), announced in our December 12, 2008 Bulletin and January 2009 News & Updates is retired. Servicers must no longer solicit Borrowers for a modification under the SMP and instead must evaluate Borrower eligibility for a modification under the Home Affordable Modification Program.

In support of the Home Affordable Modification Program announced on March 11, 2009 Freddie Mac is making the Home Affordable Modification Agreement (Form 3157), available as a Uniform Instrument; this instrument must be used as step two of the two step loan modification process offered under this program. Complete information about the Home Affordable Modification Program is available in the Freddie Mac March 11, 2009 Seller Servicer Guide Bulletin.

Revised Home Affordable Modification Program Loan Workout Plan

Home Affordable Modification Program Loan Workout Plan (Form 3156) has been revised and replaced with Home Affordable Modification Trial Period Plan (Form 3156)

The revised Home Affordable Modification Loan Workout Plan tagline will now read Home Affordable Modification Agreement (Form 3156 3/09 (rev. 3/09)).

Please note the Affordable Modification Program Loan Workout Plan is discontinued

January 2009

Revised Streamlined Modification Program Loan Workout Plan and Modification Agreement

Please note that there have been updates to the Streamlined Modification Program Loan Workout Plan and Modification Agreement. Effective January 28, 2009, the revised version of the Form 3169 must be used for all modifications under the Streamlined Modification Program.

The revised Streamlined Modification Program Loan Workout Plan and Modification Agreement tagline will show a version date of (Form 3169 12/08 (rev. 1/09)).

Updated List of Single-Family Uniform Instruments

The Single-Family Uniform Instruments list has been updated to reflect the new Streamlined Modifications Program Loan Instruments and the revision.

A detailed list of the Single-Family Uniform Instruments currently provided by Freddie Mac is posted on our website and can be found at: http://www.freddiemac.com/uniform/.

New Streamlined Modification Program Uniform Instruments now Available

On December 12, 2008, Freddie Mac announced its participation in a streamlined loan modification program developed by the Federal Housing Financing Authority, the Department of the Treasury, Fannie Mae, Freddie Mac and certain lenders. To support this program, Freddie Mac is making available as Uniform Instruments, the loan instruments that must be used in connection with loan modifications offered through this program. Complete information about the Streamlined Modification Program is available in the Freddie Mac December 12, 2008, and January 9, 2009, Seller/Servicer Guide Bulletins.

The Uniform Instruments are:

The Streamlined Modification Program Loan Workout Plan and Modification Agreement; this document is used to document the terms of the workout plan and loan modification agreed to between the lender and the borrower.
The Streamlined Modification Program Workout Plan Pending Rate Adjustment; this document is used to describe the terms of the workout plan when a rate or payment adjustment will occur during the trial period.

These documents and their use can be found on http://www.freddiemac.com/uniform/unifspecial.html

Please direct Uniform Instrument related questions or comments to the Uniform Instrument Mailbox: Uniform_Instruments@freddiemac.com

Inquiries relating to other topics should be submitted using the Contact Us feature on Freddiemac.com