Freddie Mac Pushes Out Foreclosure Timelines

The first thing we need to clear up is the question of what a "foreclosure timeline" is and why freddie mac (and Fannie Mae) have them. Foreclosure law is made by the states, and there are 50 different sets of state FC law out there, plus one for DC and three for the territories Freddie Mac buys loans in, giving them a total of 54 sets of laws.

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Fannie Mae and Freddie Mac announced that 33 states would see an increase in the maximum number of allowable days for "routine" foreclosure proceedings. The new foreclosure timelines will apply to all foreclosure sales completed on or after Aug. 1.

"Freddie Mac Pushes Out Foreclosure Timelines. PAUL JACKSON" ""We are taking these steps because we want to reinforce the tremendous importance of workouts and reward their use," said Freddie Mac vice president of servicing and asset management Ingrid Beckles.

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Servicing Bulletin 2018-4 – Extension of Foreclosure Sale Suspension in Puerto Rico and the U.S. Virgin Islands – (3.7.18) FreddieMac Updates FAQ to Servicers and DRLS Law Firms – includes Clarifications Related to Servicing Guide Section 9501.11 (2.7.18) Freddie Mac Servicing Requirements Related to August / September Hurricanes

There are several activities you can perform to effectively manage and improve your foreclosure timeline performance. report accurately and Timely Reporting your monthly edr data and foreclosure sale/DIL results to Freddie Mac in an accurate and timely manner is critical to effective foreclosure timeline management.

Freddie Mac Doesn't Understand Savings Over Foreclosure SUBJECT: SERVICING UPDATES – sf.freddiemac.com – repurchased prior to the assessment of State foreclosure timeline compensatory fees) remain excluded from State foreclosure timeline compensatory fee calculations What is changing: Freddie Mac will no longer aggregate a Servicer’s performance for determining State foreclosure timeline compensatory fees on an intra-state basis each month.

Foreclosure Time Frames and Compensatory Fee Allowable Delays Exhibit Effective January 1, 2019 the table below specifies Fannie Mae’s maximum number of allowable days between the due date of the last paid installment (LPI) and foreclosure sale date, as referenced in the Fannie Mae Servicing Guide Part E. It includes all applicable time.

""Fannie Mae"":http://www.fanniemae.com laid out new standards for mortgage servicers Monday related to the management of delinquent loans, default prevention, and foreclosure timeframes. both.

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