Following the onset of the California Wildfires, Freddie Mac issued the following advisory email;

From: SF_Advisory@FreddieMac.com [mailto:SF_Advisory@FreddieMac.com]
Sent: Wednesday, October 24, 2007 6:27 PM
Subject: Important Information for Sellers and Servicers Doing Business in Areas Affected by California Wildfires

This e-mail is to remind you that Freddie Mac’s disaster relief options are available for borrowers whose homes are damaged or destroyed by the disastrous wildfires in southern California. In addition, we're extending mortgage relief options to all National Guard members, firefighters, police, or other first respondents involved in California wildfire response efforts.

While it is premature to speculate on the scope of impacts resulting from these tragic events, we are reminding you that you should begin preparing to deploy relief measures for impacted homeowners with Freddie Mac-owned mortgages. In addition, we rely on you to determine the number of impacted properties and the extent of damage to each.

We encourage Freddie Mac Sellers and Servicers who conduct business in regions impacted by the wildfires to review Freddie Mac’s disaster relief policies and guidance for delivering properties in impacted areas.  Our disaster relief solutions are designed to protect the credit ratings and financial interests of wildfire victims, and include

• Short-term suspension of collection, foreclosure and eviction proceedings for up to 12 months from the date a disaster strikes, based on the relative merits of each case so borrowers can obtain disaster relief and file insurance claims.
• Not assessing late charges or reporting to credit repositories for borrowers on forbearance or repayment plans.
• Monitoring and coordinating the insurance claim process.

As always, if Servicers have a unique situation that warrants special relief consideration, we will review individual circumstances on a case-by-case basis.  Servicers may contact (800) FREDDIE or their Freddie Mac Servicing Representative if they have any questions.  Please note that we are monitoring the situation closely and may issue additional communications if events warrant.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, OH  and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 425 employees.  Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.