Freddie Mac: Guide Bulletin 2021-08: Temporary Servicing Guidance

Freddie Mac: Guide Bulletin 2021-08: Temporary Servicing Guidance

Investor Update
February 25, 2021

Source: Freddie Mac

On February 10, 2021, Freddie Mac published Guide Bulletin 2021-6 which described changes to temporary Servicing guidance related to forbearance and Payment Deferrals for Borrowers who are experiencing a COVID-19 hardship. With this Bulletin, we are announcing updates to that temporary guidance. All other forbearance and Payment Deferral requirements announced in that Bulletin remain in effect. For ease of reference, we are repeating the policy requirements described in Bulletin 2021-6 with certain adjustments, including:• Extension of the COVID-19 foreclosure moratorium

• Expansion of the COVID-19 forbearance plans to a maximum term of 18 months, or a maximum delinquency of 18 months

• Expansion of the COVID-19 Payment Deferral to a maximum delinquency of 18 months and a maximum deferral of 18 missed monthly payments

• Clarification regarding Flex Modification eligibility for Borrowers with a COVID-19 hardship

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