Freddie Mac Extends Deadline for Use of New Annual Certification System

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Freddie Mac issued Bulletin 2020-42, which moves back the effective date of its new annual certification and change and activity reporting system by one month.

As described in a prior WBK Financial Services Update, Freddie Mac adopted a new submission process for its Annual Certification Report and the Change/Activity Report.  Freddie Mac’s new system—the Unified Counterparty Experience System—is intended to simplify these annual reporting requirements.  The new system was originally set to go into effect on November 8, 2020, but per the recent Bulletin this date has been pushed back to December 7, 2020.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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