11 Feb Freddie Mac: FHLMC Guide Bulletin 2021-05: Servicing Updates
February 10, 2021
Source: Freddie Mac
Duty to Serve:
• Exhibit 40 updates
• Greater specificity on Escrow account requirement
Community Land Trust Mortgages
• Requirement flexibilities for Community Land Trust Mortgages
Depository Accounts risk threshold
• Updates to depository accounts risk threshold
Electronic Payment Deferral Agreement
• Updates to the delivery requirements of Electronic Payment Deferral Agreement
Additional Guide updates
• Further updates as described in the Additional Guide updates section of this Bulletin
DUTY TO SERVE: EXHIBIT 40 UPDATES
As announced in Guide Bulletin 2018-9, we are currently partnered with NextJob®, a national employment solution company, to help Servicers assist eligible homeowners with Home Possible® and HFA Advantage® Mortgages in specific high-needs areas who experience employment challenges.
We are updating Guide Exhibit 40, Duty to Serve High-Need Areas according to the most recent annual updates from the FHFA. These updates impact what areas are eligible for participation with the NextJob re-employment services as outlined in Guide Section 9102.4(c).
Guide impact: Exhibit 40
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