Amendments to the Servicing requirements include:

• Update of the Designated Counsel/Trustee list’s State-specific documentation and the requirement that Servicers submit this documentation to Designated Counsel within two days of referral;
• Elimination of the requirement that Servicers send Freddie Mac a copy of the executed Loan Modification Agreement on a completed loan modification;
• Specification that the Investor Accounting area will supply Servicers with the charge-off form containing the amount to be charged off on the loan;
• Introduction of a separate expense code to Exhibit 74, Expense and Income Codes to the Form 104SF, so that Servicers may more easily request expense reimbursement when the primary insurance policy excluded windstorm coverage ;
• Revision and updates to several Servicer forms;
• Update to the Directory to reflect new contact information for inquiries regarding Balloon/Reset Mortgages and to reflect recent Freddie Mac departmental moves;
• Addition of a compliance with law requirement specifically requiring Seller/Servicers to comply with data privacy-related laws;
• Refining the reasons for Seller/Servicer disqualification and suspension
• Update to the Guide to address a Seller/Servicer’s obligation to provide mortgage information to a credit enhancer when Freddie Mac obtains credit enhancements on purchased  mortgages.

Any questions or comments about the requirements contained in this Bulletin, should be directed to the respective Freddie Mac representative or by calling (800) FREDDIE.

To view the Bulletin in its entirety, including amendments to Freddie Mac's Selling requirements, please click here.

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 450 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.