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Title: New Bulletin From Freddie Mac
Source: Freddie Mac
Date: 8/15/2008

SUBJECTS

Both selling and Servicing requirements are amended in this Single-Family Seller/Servicer Guide (Guide) Bulletin.
Selling requirements changes:

  • Emphasizing the requirement that taglines for the loan instrument be present on each page of the joint Fannie Mae/Freddie Mac and Freddie Mac Uniform Instruments
  • Reminding Sellers that our temporary selling requirements for Mortgages affected by Hurricane Katrina and Hurricane Rita have expired, and reminding Sellers that our temporary special collateral requirements for these Mortgages remain in effect until further notice
Changes to selling and Servicing requirements include:
  • Updating Form 1055, Mortgage Bankers’ Financial Reporting Form, to reflect current accounting practices and to capture additional information
  • Updating our Seller/Servicer eligibility criteria to require that a Seller/Servicer provide financial information for its parent, subsidiary or affiliates upon Freddie Mac request
Changes to Servicing requirements:
  • Providing additional direction to Servicers with respect to actions that should be taken when Balloon/Reset Mortgages reach maturity
  • Updating contact information for remittances sent to JP Morgan Chase
See Related Documents to view Bulletin August 15, 2008.



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