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1. #Marketing and communications freddie mac glassdoor full#
2. #Marketing and communications freddie mac glassdoor code#

#Marketing and communications freddie mac glassdoor code#

Servicers will no longer be required to report EDR default action code 20 to reinstate a loan except when Servicers accept a partial reinstatement and need to change the mortgage status from “Foreclosure” to “Delinquent.” We also are renaming the code to EDR default action code 20 (Reinstatement (Partial)). With the implementation of the Investor Reporting Change Initiative, Freddie Mac systems will validate payment activity against the reported DDLPI and automatically reinstate loans when necessary.

#Marketing and communications freddie mac glassdoor full#

Previously, Servicers were required to report EDR default action code 20 (Reinstatements (Full or Partial)) to report full and partial reinstatements. Guide impacts: Sections 9202.12, 9209.4, 9209.5, 9209.7 and Guide Form 1013ĮDR default action code 20 reporting requirements To complement the changes to Servicer requirements for REO properties announced in Bulletin 2019-6, we also are removing the requirement that Servicers perform a final interior inspection of the Mortgaged Premises.Īdditionally, Servicers must pay the full amount of the relocation assistance to eligible Borrowers within 30 days, unless otherwise instructed by Freddie Mac. If the final inspection reveals that there is damage to the Mortgaged Premises caused by the Borrower, or the Mortgaged Premises was not left in broom-swept condition, we instructed the Servicer to reduce any Borrower relocation assistance by the amount of the estimated cost of remediating the issue. Further updates as described in the Additional Guide updates and Reminders section of this BulletinĪll of the changes announced in this Bulletin are effective immediately unless otherwise noted.ĭEED-IN-LIEU OF FORECLOSURE INSPECTION REQUIREMENTSĬurrently, Guide Section 9209.5 requires that Servicers perform a final inspection on the Mortgaged Premises subject to a deed-in-lieu of foreclosure (“DIL”) no more than two Business Days following receipt of the executed DIL documents to ensure that the property is vacant, undamaged and in broom-swept condition.