Summary of FHLMC Serving Guide updates for 2019
To help assist in ensuring your financial institution is up to date with servicing guidelines for FHLMC loans, here is a summary of some of the changes being made to the FHLMC Servicing Guide for 2019:
| January 2019 | |
| Updated state foreclosure timelines for all states (Exhibit 83) Effective January 1, 2019 | Guide Bulletin 2018-26 |
| Changes to FHLMC state foreclosure timeline compensatory fees Effective January 1, 2019 | Guide Bulletin 2018-26 |
| Updates to the Servicer Success Scorecard Sections (3501.2 & 8301.3) Effective January 1, 2019 | Guide Bulletin 2018-26 |
| Borrower evaluation and solicitation Revised evaluation notices and solicitation letters Effective January 1, 2019 | Guide Bulletin 2018-14 |
| March 2019 | |
| Changes to FHLMC property inspection requirements for delinquent mortgages Effective March 1, 2019 | Guide Bulletin 2018-22 |
| Updates to FHLMC default management Borrower contact requirements Property inspection requirements Effective March 1, 2019 | Guide Bulletin 2018-22 |
| May 2019 | |
| Servicing GreenCHOICE Mortgages- financing energy efficiency improvements and energy efficient homes. Effective for mortgages with settlement dates on and after May 1, 2019 | Guide Bulletin 2018-21 |
| July 2019 | |
| Investor Reporting Change Initiative: Updates to the Servicer Success Scorecard (Sections 3501.2 and 8301.3) Effective July 1, 2018 | Guide Bulletin 2018-14 |
| Revisions to FLMC Standard Short Sale (“short sale”) and Standard Deed-in-Lieu of Foreclosure (“deed-in-lieu”) requirements Effective September 1, 2019 | Guide Bulletin 2018-22 |
Article prepared by Kay M. Scarselli, contact kscarselli@fosaudit.com for additional information.
Kay M. Scarselli | Summary of FHLMC Serving Guide updates for 2019