The following are changes to Freddie Mac's Selling and Servicing requirements:

• Providing additional information regarding the suspension of Triad Guaranty Insurance Corporation, announced on June 19, 2008.

The following are changes to Freddie Mac's Servicing requirements:  

• Standardizing the foreclosure referral period for all Mortgages to no later than the 120th day of delinquency
• Increasing foreclosure time lines in 21 States
• Increasing workout compensation, discontinuing foreclosure time line compensation and not permitting Servicers to charge Borrowers a processing fee for loan modifications
• Revising loan modification requirements for delinquent Mortgages
• Expanding the designated counsel/trustee program in Florida, as announced in an e-mail to Freddie Mac Servicers on June 23, 2008
• Temporary requirements to reimburse Servicers for utilizing the Borrower outreach methods of door hanging and door knocking services. Additional information is available in Exhibit A.

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

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio 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 500 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.