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Freddie Mac Announces Additional Hurricane Help

FreddieFreddie Mac recently announced their efforts to help those affected by the continued hurricane season through updates to their temporary Selling and Servicing requirements in Single-Family Seller/Servicer Guide Bulletin 2017-2021.

The additional information includes reimbursing Sellers through September 2018 for property inspections completed prior to mortgage sale or securitization of mortgages secured by properties in Eligible Disaster Areas as a result of a 2017 hurricane, announcing a temporary reimbursement process for property inspections of mortgaged premises located in Eligible Disaster Areas that are conducted by Servicers on and after August 29, 2017, and extending the scope of its temporary selling and Servicing requirements related to Hurricane Harvey and Hurricane Irma in Bulletins 2017-14, 2017-16 and 2017—to mortgages and borrowers whose mortgaged premises or places of employment are in Eligible Disaster Areas impacted by all hurricanes on and after August 25, 2017, and through the 2017 hurricane season.

For Servicers, Freddie Mac added that the temporary suspension of foreclosure sales and evictions will only apply to mortgaged premises located in an Eligible Disaster Area as a result of hurricanes Harvey, Irma, and Maria.

About Author: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email [email protected].

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