Five Brothers

Freddie Mac Bulletin 2014-1: Servicing


January 24, 2014




TO: Freddie Mac Servicers




This Single-Family Seller/Servicer Guide (“Guide”) Bulletin updates and revises our Servicing requirements, including, but not limited to, the following:


Step-Rate Mortgages


  • Adding communication time line requirements for notifying Borrowers of interest rate adjustments for Step-Rate Mortgages




  • Extending our State foreclosure time lines when certain allowable delays occur
  • Updating the requirements for reimbursement of costs associated with the posting and publication of foreclosure notices or other legal proceedings
  • Providing additional requirements and guidance related to expedited Freddie Mac Default Legal Matters


Third Party Use of Workout Prospector® and BPOdirect®


  • Permitting access to Workout Prospector and BPOdirect for authorized third-party service providers


Electronic Default Reporting (EDR) requirements


  • Revising our reporting requirements for full reinstatements
  • Updating the Guide to reflect new EDR transmission codes


Please click here to view the Bulletin in its entirety