Freddie Mac: FHLMC Guide Bulletin 2020-28: Eligible Disasters and Other Servicing Guidance Related to COVID-19

Freddie Mac: FHLMC Guide Bulletin 2020-28: Eligible Disasters and Other Servicing Guidance Related to COVID-19

Investor Update
July 15, 2020

Source: Freddie Mac

This Guide Bulletin announces:

Eligible Disasters

• Eligible Disaster updates
• Credit reporting requirements updates for Borrowers impacted by an Eligible Disaster
• Introduction of the Disaster Payment Deferral – October 1, 2020

COVID-19 Servicing updates and clarifications

• Additional updates to Servicer incentives for Extend Modification and Capitalization and Extension Modification
• Insurance loss proceeds disbursements to Borrowers impacted by a covid-19 related hardship
• EDR reporting clarification for Mortgages with an ongoing COVID-19 related hardship that are also impacted by an Eligible Disaster
• Clarification of Escrow shortage repayment period following a COVID-19/Disaster Payment Deferral

EFFECTIVE DATE

All of the changes announced in this Bulletin are effective immediately unless otherwise noted.

For full update, please click the source link above.