Mortgage Compliance News: 2010 Freddie Mac Bulletins

2010 Freddie Mac Bulletins | MCA

Bulletin 2010-32: Extension of Service Member Foreclosure Protection

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  • Extends service member foreclosure protection to 12/31/11.

Bulletin 2010-31: Uniform Appraisal Dataset and Uniform Collateral Data Portal Requirements

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  • Provides requirements for the Uniform Appraisal Dataset (UAD) and Uniform Collateral Data Portal (UCDP).

Bulletin 2010-30: Postsettlement Delivery Fees

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  • Revises postsettlement delivery fees, effective 3/1/11.

Bulletin 2010-29: Selling

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  • Announces new pooling option for super conforming mortgages
  • Announces improvements to Selling System
  • Reminds Sellers that Notes may not be endorsed by using stickers

Bulletin 2010-28: 2011 Loan Limits

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  • Announces that Freddie Mac is maintaining temporary loan limits in designated high-cost areas at 2010 levels through 9/30/11, and base loan limits will remain at 2010 levels.

Bulletin 2010-27: Servicing

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  • Announces changes to servicing requirements and additional guidance on HAMP
    • Designated counsel may request Note directly from document custodian in foreclosure actions
    • Guidance on late charges associated with forbearance agreements and repayment plans
    • Modified mortgage must be fully amortizing fixed-rate mortgage
    • Updated contact information for servicers to notify Freddie Mac that conversion option has been exercised for convertible ARM

Bulletin 2010-26: Foreclosure and Bankruptcy Referrals in Florida

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  • Announces that servicers may not refer any new Freddie Mac foreclosure or bankruptcy cases to Law Offices of David J. Stern, P.A. in Florida.

Bulletin 2010-25: Servicer Requirements for Hardest Hit

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  • Provides guidance to servicers for interactions with Hardest Hit Fund Unemployment and Reinstatement Programs.

Bulletin 2010-24: State Farm Florida Insurance Company

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  • Announces that Freddie Mac will accept insurance from State Farm Florida Insurance Company…

Bulletin 2010-23

Selling and Servicing

  • Announces Appraiser Independence Requirements, which replace HVCC
  • Makes changes to requirements regarding:
    • Property eligibility
    • Credit
    • Eligibility requirements for Freddie Mac counterparties
    • Operational
    • Mortgage insurance

Industry Letter, dated 10/1/10

Foreclosure Proceedings

  • Announces that servicers must review affidavit policies related to foreclosure by October 18, 2010.

Bulletin 2010-22

Selling and Servicing

  • Updates Guide, including enhancements to fraud prevention, Exclusionary List, OFAC compliance, etc.

Bulletin 2010-21

Extension of Settlement Deadline for Freddie Mac's HAMP Backup Modification Solution to December 1, 2010

  • Extends settlement deadline for HAMP Backup Modifications to December 1, 2010.

Bulletin 2010-20

Mortgages Secured by Properties with an Outstanding Property Assessed Clean Energy (PACE) Obligation

  • Provides guidance regarding Freddie Mac's purchase of mortgages with a Property Assessed Clean Energy (PACE) obligation.

Bulletin 2010-19


  • Makes changes to selling requirements, including providing guidance on 2010 median income changes, revising underwriting requirements regarding inquiries on borrower's credit report, etc.

Bulletin 2010-18

Special Characteristics Codes and Other Codes Mapped to MISMO Data Points

  • Announces Freddie Mac's reduction of dependence on Special Characteristics Codes (SCCs) and other delivery codes, as part of MISMO transition.

Bulletin 2010-17

Comprehensive Guide Chapter C65 Update and New Requirements for the Home Affordable Modification Program (HAMP)

  • Updates Guide and adds new HAMP requirements.

Bulletin 2010-16

Selling and Servicing

  • Provides guidance for sellers about Florida Condominium Effort
  • Introduces new requirements for servicers about short sales, HAFA EDR codes, and payment of non-performing loans invoices

Bulletin 2010-15

Freddie Mac Implementation Guide for Loan Delivery Data Published

  • Announces publication of Freddie Mac Implementation Guide for Loan Delivery Data. Requirements effective for all loans delivered to Freddie Mac on or after 9/1/11.

Industry Letter, dated June 25, 2010

Problem Drywall

  • Provides guidance and forbearance options for problem drywall.

Bulletin 2010-14

Amendment to Freddie Mac's HAMP Backup Modification Requirements

  • Revises certain eligibility, solicitation and reporting requirements for HAMP Backup Modifications. Also revises settlement timeline…

Bulletin 2010-13

Selling Changes

  • Amends Guide related to PUDs, Relief Refinance Mortgages, interested party contributions.

Bulletin 2010-12

Home Affordable Foreclosure Alternatives

  • Announces Freddie Mac's requirements for the Treasury's Home Affordable Foreclosure Alternatives (HAFA) initiative. Effective 8/1/10.

Bulletin 2010-11

Freddie Mac HAMP Backup Modification

  • Announces changes for HAMP Backup Modification, Cap-to-Reinstate modification, and HAMP requirements to permit use of a Servicer's proprietary form to collect borrower's financial information…

Industry Letter, dated 5/5/10

First Lien Mortgages and Energy Efficient Loans

  • Reminds "Seller/Servicers that an energy-related lien may not be senior to any Mortgage delivered to Freddie Mac. Seller/Servicers should determine whether a state or locality in which they originate mortgages has an energy loan program, and whether a first priority lien is permitted…"

Bulletin 2010-10


  • Announces new Reimbursement System for submitting expense reimbursement requests.

Bulletin 2010-9

Selling and Servicing

  • Amends both selling and servicing requirements, such as max LTV for Rural Housing, revised requirements for Servicing Released Sales Process (effective 5/1/10), etc.

Bulletin 2010-8

Florida Condominium Projects

  • Announces Florida Condominium Effort to increase the availability of financing for Florida condos.

Bulletin 2010-7

Credit and Property Eligibility

  • Revises certain credit and property eligibility requirements.

Bulletin 2010-6

Freddie Mac Relief Refinance Mortgage Offering Extended

  • Extension of Relief Refinance Mortgages—must have Note Dates on or before June 30, 2011.

Bulletin 2010-5

Selling and Servicing

  • Announces enhancing Loan Prospector to provide a point value estimate from HVE for a property address.

Bulletin 2010-4

Multiple Subjects

  • Covers multiple topics, including requiring Sellers to take out separate fixed-rate Cash contracts for Relief Refis with higher LTVs (effective 2/22/10).

Bulletin 2010-3

Home Affordable Modification Program

  • Provides guidance on HAMP, including new requirement for full verification of borrower eligibility after servicer receives "Initial Package."

Bulletin 2010-2

FHA-Approved Project Review for Condominiums

  • Revises Guide so that Sellers may only use FHA Condominium approval to determine eligibility for sale to Freddie Mac for certain mortgage types.

Bulletin 2010-1

Home Affordable Modification Program

  • Announces changes to HAMP, mandates use of newly introduced Imminent Default Indicator (effective March 1, 2010), revises imminent default requirements, etc.

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