Loan Modifications Freddie Mac

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
News & Analysis as of

Freddie Mac Updates Single-Family Seller/Servicer Guide

On September 15, Freddie Mac released a bulletin updating portions of Single-Family Seller/Servicer Guide (“Guide”) governing foreclosures and foreclosure alternatives. The updates include changes to the loan modification...more

Freddie Mac Updates Alternative To Foreclosure Requirements, Other Servicing Policies

On July 15, Freddie Mac issued Bulletin 2014-14, which announced a new automated settlement process for mortgage modification settlements. Effective December 1, 2014, servicers must submit the required settlement data for a...more

Fannie Mae, Freddie Mac Announce Targeted Modification Program

Recently, Fannie Mae (Servicing Guide Announcement SVC-2014-12) and Freddie Mac (Bulletin 2014-11) introduced a temporary modification option targeted to borrowers located in Detroit, Michigan as part of the FHFA-directed...more

Fannie Mae Updates Modification Policies

On March 28, Fannie Mae issued Servicing Guide Announcement SVC-2014-05, which provides, as recently promised, updated guidance regarding standard and streamlined modification programs. The announcement informs servicers...more

Freddie Mac Revises Modification Requirements

On March 28, Freddie Mac announced in Bulletin 2014-4, that with regard to the processing of standard and streamlined modifications for mortgages with pre-modification mark-to-market loan-to-value ratios less than 80%,...more

New Streamlined Loan Modification Program #LoanModAttorney

If you have a mortgage insured by Fannie Mae or Freddie Mac and you have been thinking about modifying your loan, there may good news for you! Previous modification programs have not worked well or failed miserably. However,...more

Federal Agencies Announce Two-Year HAMP Extension

On May 30, the FHFA announced that Fannie Mae and Freddie Mac will extend the Home Affordable Modification Program (HAMP) through December 31, 2015....more

Freddie Mac $1 Billion Performing Modified Loan Securitization

On May 23, Freddie Mac announced that it has begun securitizing certain performing modified mortgage loans held in its portfolio. These loans have been current for at least six consecutive months....more

Freddie Mac Announces Start Of Modified Loans Securitization

On May 23, Freddie Mac announced that it has begun securitizing certain loans that were modified for borrowers at risk of foreclosure. ...more

Extension of Loan Modification Programs

On May 30, Treasury and HUD announced an extension of the Making Home Affordable Modification Program (HAMP) through December 31, 2015. In addition, on May 30, the FHFA announced that it has directed Fannie Mae and Freddie...more

Orrick's Financial Industry Week In Review - June 3, 2013

In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more

Loan Modification and the Failure to Mitigate Damages

Freddie Mac has announced the immediate implementation of its Streamlined Modification program, a no-document modification program offered to severely delinquent borrowers. The implementation of the program, originally set to...more

New Loan Modification Program Announced! #LoanModAttorney

The Federal Housing Finance Agency, the agency that oversees Fannie Mae and Freddie Mac, is launching a new loan modification program. The program is something quite different from HAMP and HARP. What is does is make the...more

FHFA Streamlined Modification Initative

On March 27, the FHFA announced that Fannie Mae and Freddie Mac will offer a new streamlined loan modification initiative. Beginning July 1, servicers of Fannie and Freddie mortgage loans will be required to offer...more

FHFA Announces Streamlined Modification Initiative

On March 27, the FHFA announced that Fannie Mae and Freddie Mac will begin a new loan modification initiative on July 1, 2013. As described in more detail in Fannie Mae Servicing Guide Announcement SVC-2013-05 and Freddie Mac...more

House Democrats Urge President Obama To Nominate FHFA Director

On February 7, 45 Democratic Members of the House of Representatives sent a letter to President Obama requesting he nominate a permanent director for the FHFA to replace Acting Director Edward DeMarco. ...more

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