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News & Updates
Originators are responsible for maintaining compliance with applicable laws and recording requirements when using the Uniform Instruments. June 2009Revisions to the Uniform Instruments website Freddie Mac has repositioned and redesigned our uniform instruments website. The uniform instruments link is now easy to find and access from the freddiemac.com Single-Family home page at www.freddiemac.com/singlefamily. The new layout was designed to help readers find loan documents quickly by categorizing the Notes, Security Instruments, and Riders for easier navigation. Our new look also eliminates excessive scrolling with subcategories. Additionally, we will continue to provide support to answer your uniform instruments questions, comments or concerns at uniform_instruments@freddiemac.com. New Subordination Agreements Freddie Mac has posted the new standard subordination agreement documents for resubordinating junior liens to first mortgages that are being refinanced or modified. These subordination agreements are expected to provide benefits to lenders and servicers who are originating or modifying mortgages as part of the Obama Administration Making Home Affordable program.
Revised Uniform Residential Loan Application We have revised the Fannie Mae/Freddie Mac Uniform Residential Loan Application (Freddie Mac Form 65). The revisions addresses the new Federal Housing Finance Agency’s (FHFA) loan-level origination data requirements, announced in FHFA press release on January 15, 2009. We are making the revised Form 65 available to assist lenders in preparation for implementing the new requirements. The revised Form 65 must be used with loan applications originated beginning January 1, 2010, but may be used prior to that time. April 2009Revisions to Authorized Changes Page for Special Purpose Instruments Freddie Mac's Authorized Changes for the Special Purpose Instruments has been updated. Freddie Mac has added mandatory authorized changes for the Home Affordable Modification Trial Period Plan (From 3156) and Home Affordable Modification Agreement (Form 3157). March 2009On March 11, 2009 Freddie Mac introduced requirements for the Home Affordable Modification Program. To support this program, Freddie Mac is making the Home Affordable Modification Program Loan Workout Plan (Form 3156), available as an Uniform Instrument; this instrument must be used as step one of the two-step loan modification process offered through the program. Complete information about the Home Affordable Modification Program is available in the Freddie Mac March 11, 2009 Seller Servicer Guide Bulletin. Please note the Streamlined Loam Modification Program (SMP), announced in our December 12, 2008 Bulletin and January 2009 News & Updates is retired. Servicers must no longer solicit Borrowers for a modification under the SMP and instead must evaluate Borrower eligibility for a modification under the Home Affordable Modification Program. In support of the Home Affordable Modification Program announced on March 11, 2009 Freddie Mac is making the Home Affordable Modification Agreement (Form 3157), available as a Uniform Instrument; this instrument must be used as step two of the two step loan modification process offered under this program. Complete information about the Home Affordable Modification Program is available in the Freddie Mac March 11, 2009 Seller Servicer Guide Bulletin. Revised Home Affordable Modification Program Loan Workout Plan Home Affordable Modification Program Loan Workout Plan (Form 3156) has been revised and replaced with Home Affordable Modification Trial Period Plan (Form 3156) The revised Home Affordable Modification Loan Workout Plan tagline will now read Home Affordable Modification Agreement (Form 3156 3/09 (rev. 3/09)). Please note the Affordable Modification Program Loan Workout Plan is discontinued January 2009Revised Streamlined Modification Program Loan Workout Plan and Modification Agreement Please note that there have been updates to the Streamlined Modification Program Loan Workout Plan and Modification Agreement. Effective January 28, 2009, the revised version of the Form 3169 must be used for all modifications under the Streamlined Modification Program. The revised Streamlined Modification Program Loan Workout Plan and Modification Agreement tagline will show a version date of (Form 3169 12/08 (rev. 1/09)). Updated List of Single-Family Uniform Instruments The Single-Family Uniform Instruments list has been updated to reflect the new Streamlined Modifications Program Loan Instruments and the revision. A detailed list of the Single-Family Uniform Instruments currently provided by Freddie Mac is posted on our website and can be found at: http://www.freddiemac.com/uniform/. New Streamlined Modification Program Uniform Instruments now Available On December 12, 2008, Freddie Mac announced its participation in a streamlined loan modification program developed by the Federal Housing Financing Authority, the Department of the Treasury, Fannie Mae, Freddie Mac and certain lenders. To support this program, Freddie Mac is making available as Uniform Instruments, the loan instruments that must be used in connection with loan modifications offered through this program. Complete information about the Streamlined Modification Program is available in the Freddie Mac December 12, 2008, and January 9, 2009, Seller/Servicer Guide Bulletins. The Uniform Instruments are:
These documents and their use can be found on http://www.freddiemac.com/uniform/unifspecial.html Please direct Uniform Instrument related questions or comments to the Uniform Instrument Mailbox: Uniform_Instruments@freddiemac.com Inquiries relating to other topics should be submitted using the Contact Us feature on Freddiemac.com
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