Freddie Mac has released its latest Bulletin amending its Servicing and Selling requirements.

Changes include:

• revising the default management section of the Servicer Performance Profile. Freddie Mac will increase the weighting of the Workout/REO numerator from 1 to 1.5 for loan modifications and short payoffs on affordable Mortgages to account for the increased complexities of servicing these Mortgages.
• eliminating its technology compensation for electronic referrals toforeclosure attorneys. However, to recognize Servicers' increased use of technology in all aspects of servicing Mortgages, Freddie Mac is increasing our repayment plan compensation to $250.
• requiring Servicers to obtain approval before advancing payment of tax, insurance and property preservation expenses for delinquent low balance Mortgages.
• eliminating the Borrower's Social Security Number as a required data element on Form 1066, SCRA Accounting Data Form
• emphasizing that, unless a Servicer is instructed otherwise, Freddie Mac will conduct eviction proceedings on Real Estate Owned (REO) properties
• emphasizing that, unless a Servicer is instructed otherwise, Freddie Mac will conduct eviction proceedings on Real Estate Owned (REO) properties
• updating contact information for several designated counsel firms listed in the Designated Counsel List, formerly Guide Exhibit 79, available by clicking here.

Any questions regarding this Bulletin are to be directed to the respective Freddie Mac representative or by calling (800) FREDDIE.

To view the Bulletin in its entirety, including all amendments to the Selling requirements, please click here.