Changes announced in the Bulletin include the following:

• Updated Form 1055, Mortgage Bankers' Financial Reporting Form. Freddie Mac worked with Fannie Mae, Ginnie Mae and the Mortgage Bankers' Association to update Form 1055, Mortgage Bankers' Financial Reporting Form, to reflect current financial reporting standards and implement a number of significant improvements to facilitate the reporting of financial information.
• Additional guidance for Servicers regarding balloon/reset mortgages that reach maturity. Updates to the Guide to provide additional guidance related to: notification requirements when the balloon payment is not received by the balloon maturity date, managing partial payments received from the borrower after the balloon maturity date and the mortgage is not reset, and initiating short-term forbearance and workout options.
• Seller/Servicer must provide financial information for its parent, subsidiary or affiliates upon Freddie Mac's request
• Updated contact information for remittances sent to JP Morgan Chase.

To view the Bulletin in its entirety, including changes to the Selling Guide, 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.