Freddie Mac: FHLMC Guide Bulletin 2020-39: Servicing Updates

Freddie Mac: FHLMC Guide Bulletin 2020-39: Servicing Updates

Investor Update
October 14, 2020

Source: Freddie Mac

This Guide Bulletin announces:

Electronic Payment Deferral Agreement

▪ Requirements for eSignatures on Electronic Payment Deferral Agreements

Transfers of Ownership and assumptions

▪ Expanded requirements for Transfers of Ownership

Escrow requirements

▪ New requirement for Servicers to have a written policy in place for waiving an Escrow account – February 1, 2021

Eligible Disasters

▪ Guide changes for the previously announced Disaster Payment Deferral – October 1, 2020

▪ Guide changes related to placing a Borrower who is impacted by an Eligible Disaster in a forbearance plan

Additional Guide updates

▪ Further updates as described in the Additional Guide updates section of this Bulletin

EFFECTIVE DATE

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