MetaSource Mortgage Blog

2009 Freddie Mac Bulletins

Sunday, January 24, 2010

Mortgage QC Compliance Bulletins: Freddie Mac 2009

  • Bulletin 2009-28: Home Affordable Modification Program. Provides information about the Treasury’s Mortgage Modification Conversion Drive, announces changes to HAMP, and changes capitalization threshold on all mortgages being modified. Effective immediately.
  • Bulletin 2009-27: Loan Limits, Origination Data and Credit. Updates the Guide to reflect the maximum original loan amounts for Mortgages eligible for sale to Freddie Mac.
  • Bulletin 2009-26: Home Affordable Modification Program. Reminds servicers of changes to HAMP, announces revisions to partial principal forbearance and NPV requirements, and reminds servicers of announcement about Imminent Default Indicator.
  • Bulletin 2009-25: Multiple Subjects. Makes multiple changes to selling and servicing requirements, such as document custodial operations, uniform instruments, attorney fees and title expenses, etc.
  • Bulletin 2009-24: Credit and Property Eligibility. Revises certain credit and property eligibility requirements and announces that certain higher-risk mortgages will no longer be eligible for purchase.
  • Bulletin 2009-23: Home Affordable Modification Program. Makes changes to HAMP, including requiring services to evaluate and process mortgages for HAMP in Workout Prospector, program activity reporting requirements, etc.
  • August 21 Industry Letter: Off-cycle update to Exclusionary List. Announces updated Freddie Mac Exclusionary List.
  • Bulletin 2009-22: Multiple Subjects. Makes several changes to selling requirements, including guidance regarding area median income changes, amending appraisal requirements for super conforming mortgages, and updates for several forms and exhibits.
  • Bulletin 2009-21: Relief Refinance Mortgages. Announces additional requirements for sale of Freddie Mac Relief Refinance Mortgages with higher LTV ratios sold under fixed-rate cash through the Selling System.
  • Bulletin 2009-20: Relief Refinance Mortgages. Updates the Guide to reflect requirements for Relief Refinance Mortgages with LTV ratios greater than 105% and less than or equal to 125%.
  • Bulletin 2009-19: Home Affordable Modification Program. Announces changes to HAMP, including revising requirements for Trial Period Plan, reporting to Fannie Mae, reporting through Electronic Default Reporting, and requirements for entering into a Modification Agreement.
  • Bulletin 2009-18: Underwriting and Appraisals. Provides further guidance on existing underwriting requirements and revises other underwriting requirements with respect to Borrower income, capacity, assets and required documentation.
  • Bulletin 2009-17: Higher-Priced Mortgage Loans and Rate Spread. Announces requirements for Higher-Priced Mortgage Loans (HPMLs) and revises instruction for delivery of rate spread data on Form 11 and 13SF.
  • Bulletin 2009-16: Outsourcing Document Custodial Operations. Announces that beginning October 1, 2009, Freddie Mac will no longer directly provide Note certification and custody services, and has selected The Bank of New York Mellon Trust Company, N.A. (BNYM) to perform such services for as Designated Custodian.
  • Bulletin 2009-15: Relief Refinance Mortgages. Revises requirements for Freddie Mac Relief Refinance Mortgages previewed in June 5, 2009 Single-Family Advisory email.
  • Bulletin 2009-14: Multiple Subjects. Amends selling and servicing requirements, including reminding sellers of activated net price functionality, revising requirements for calculations of repurchase price, etc.
  • Bulletin 2009-13: Home Affordable Modification Program. Revises borrower solicitation requirements, provides guidance for Government Monitoring Data, revises requirements for reporting and remitting a payoff of a mortgage with a partial principal forbearance, etc.
  • Bulletin 2009-12: Relief Refinance Mortgages and Super Conforming Mortgages. Revises requirements of super conforming mortgages and Freddie Mac Relief Refinance Mortgages. Also reminds sellers of May 31, 2009 deadline for providing Freddie Mac with certificate of incumbency.
  • Bulletin 2009-11: Multiple Subjects. Revises delivery instructions, incorporates latest version of Form 81-93, updates Form 981, etc.
  • Bulletin 2009-10: Home Affordable Modification Program. Changes multiple HAMP requirements, including criteria for determining whether a borrower is in imminent default, introducing NPV Calculator, etc.
  • Bulletin 2009-9: Super Conforming and Relief Refinance Mortgages. Provides complete requirements regarding increased maximum loan limits for super conforming mortgages, and the changes to super conforming mortgage requirements.
  • Bulletin 2009-8: Home Affordable Modification Program. Revises eligibility requirements so that borrower must currently have monthly housing expense-to-income ratio greater than 31%, announces name of Form 3156, etc.
  • Bulletin 2009-7: HVCC, Relief Refinance and Condominiums. Revises Guide to include applicable HVCC requirements, update requirements for Condominium Unit Mortgages, etc.
  • Bulletin 2009-6: Home Affordable Modification Program. Introduces several requirements for HAMP, reminds servicers that Streamlined Modification Program is retired, and introduces new Borrower Qualification Worksheet.
  • Bulletin 2009-5: Freddie Mac Relief Refinance Mortgages. Announces eligibility and delivery requirements for the Freddie Mac Relief Refinance Mortgage.
  • Bulletin 2009-4: Multiple Subjects. Announces requirements of certificate of incumbency form, remitting payments for seller fees via Automated Clearing House draft, etc.
  • February 12 Industry Letter: Anti-predatory Lending. Reminds Seller/Servicers about anti-predatory lending requirements and provides additional guidance.
  • Bulletin 2009-3: Post settlement Delivery Fees. Increases post settlement delivery fees to address the additional risk associated with some mortgages.
  • Bulletin 2009-2: Streamlined Modification Program. Provides new requirements for mortgages with scheduled interest rate changes, additional information related to processing a modification under SMP, etc.
  • Bulletin 2009-1: Home Valuation Code of Conduct. Provides the revised Home Valuation Code of Conduct (“Code”). Effective May 1, 2009, Freddie Mac will no longer purchase mortgages from sellers that do not adopt the Code.


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