Learning Center Updates

What's New in Servicing?

The summary below details recent changes to the Servicing section of the Learning Center.
View changes related to Guide Updates, Underwriting, Mortgage Products, Selling & Delivery, or All Sections.

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Date	Change	Link
11/07/08	Servicing Maturing Balloon/Reset Mortgages This reference manual has been updated to provide additional direction regarding actions Servicers should take when balloon/reset mortgages reach maturity. These changes were announced in Bulletin 2008-4.	[PDF 3.50M]
11/05/08	2009 Due Date Calendar for Monthly Reporting and Remitting This quick reference outlines the 2009 monthly reporting and remittance due dates for loan-level transactions, electronic default reporting (EDR), and also includes important information about balloon/reset due dates.	[PDF 143K]
10/02/08	Managing Foreclosures and Adverse Matters We have updated this publication to reflect changes to various default management related policies, including the standardization of the initiation of foreclosure, and revised foreclosure timelines, as announced in Bulletin 2008-3 and the July 31, 2008 Bulletin.	[PDF 7.65M]
10/02/08	Alternatives to Foreclosure This publication has been updated to reflect the following changes to our policies, as announced in the July 31, 2008 Bulletin: Increased workout compensation amounts Revised title and recordation requirements for loan modifications The instances in which the loan modification agreement must be in recordable form	[PDF 4.67M]
10/02/08	Expense Reimbursement Desk Reference The Expense Reimbursement Desk Reference has been revised to reflect the new contact information for remittances to JP Morgan Chase. We have also updated the instructions for how to access Expense Manager on FreddieMac.com.	[PDF 3.1M]
09/25/08	Reimbursement for Borrower Outreach Methods Check out this new quick reference to learn about Freddie Mac's temporary requirements to reimburse Servicers for the following borrower outreach methods, as announced in the July 31, 2008 Bulletin: Door hanging service Door knocking service that results in contact with the borrower	[PDF 156K]
09/22/08	Closing the Loan Modification This quick reference has been updated to reflect our revised requirements for determining whether title insurance and recordation of the loan modification are required, as announced in the July 31, 2008 Bulletin.	[PDF 144KB]
09/22/08	Preparing to Close the Loan Modification This quick reference has been updated to define the instances in which the Loan Modification Agreement must be completed in recordable form, and to reflect our revised requirements for determining whether title insurance and recordation of the loan modification are required. All of these changes were announced in the July 31, 2008 Bulletin.	[PDF 144KB]
08/26/08	Managing Foreclosure Timelines and Preserving Deficiency Rights This quick reference has been updated to reflect the increased foreclosure timelines in 20 states and the District of Columbia, as announced in the July 31, 2008 Single-Family Seller/Servicer Guide Bulletin.	[PDF 131KB]
08/20/08	Default Management Training and Education Resources This quick reference has been updated to include links to several new offerings including the Default Management Policy Updates webinar, and our series of Solving Default Management Challenges recorded webinars.	[PDF 330K]
08/20/08	Getting Started with Default Management Getting Started with Default Management has been updated to include links to several new offerings including the Default Management Policy Updates webinar, and our series of Solving Default Management Challenges recorded webinars. We have also updated this quick reference to reflect our updated requirements for standardization of initiation of foreclosure.	[PDF 259KB]
08/07/08	Solving Default Challenges: Collections This 18-minute recorded webinar will provide an overview of default management- related challenges and best practices for collections. Learn about achieving right party contact, contacting high risk borrowers, sending Alternatives to foreclosure letters and training collectors effectively.	18-min recorded webinar
08/07/08	Solving Default Challenges: Electronic Default Reporting This 24-minute recorded webinar will provide an overview of default management-related challenges and best practices for Electronic Default Reporting (EDR). Learn about challenges with status and event code reporting, requirements for timely reporting, and Real Estate Owned (REO) reporting.	24-min recorded webinar
08/07/08	Solving Default Challenges: Foreclosure Timeline This 60-minute recorded webinar will provide an overview of default management-related challenges and best practices for your foreclosure timeline management. Review core activities in the Foreclosure Process flow including preparing and initiating, and managing the foreclosure, schedule and conduct the foreclosure sale as well as post sale activities.	60-min recorded webinar
08/07/08	Solving Default Challenges: Servicer Profile This 55-minute recorded webinar will provide an overview of default management-related challenges and best practices for the Servicer Performance Profile. Learn about the 9 individual criteria, weights, and measures for the Default Management Servicer Performance Profile as well as tips for maximizing points for each criteria.	55-min recorded webinar
07/28/08	Electronic Default Reporting Quick Reference Guide The Electronic Default Reporting Quick Reference Guide has been updated to include the file format for CPU-to-CPU transmissions.	[PDF1.1M]
07/24/08	Default Management Bulletin Guide Updates Bulletin updates from February 2008- August 2008 on Default Management changes announced for the Seller Servicer Guide. The areas of Loss Mitigation and Foreclosure/Bankruptcy are included in this session.	120 - min web conference
07/24/08	Understanding Custodial Accounts This publication has been updated to reflect that Forms 59 and 59E, as well as other worksheets and logs used in the custodial account reconciliation process, have been converted into interactive Mircrosoft Excel® worksheets. The availability of the spreadsheets was announced in Single-Family Seller/Servicer Guide Bulletin 2008-2.	[PDF 3.1M]