8404.5: Disaster reporting requirements (06/13/18)
- Kacey Olson
© Freddie Mac Single-Family Seller Servicer Guide
Refer to Bulletin 2018-9 which announced revisions related to forbearance plans. The revisions may be implemented prior to the mandatory implementation of the December 1, 2018 effective version of this section.
(a)Â Credit suppression for Borrowers impacted by an Eligible Disaster The Servicer must not report a Borrower who is on a disaster-related forbearance plan, repayment plan or Trial Period Plan to the credit repositories.
(b)Â Reporting loans affected by a disaster to Freddie Mac Servicers must report all Mortgages that are affected by a disaster and are 31 or more days delinquent to Freddie Mac via an EDR transmission within the first three Business Days of the month following the month the Servicer learned of the disaster using default reason code 034 (Eligible Disaster Area).
(c) Reporting forbearance or repayment plans to Freddie Mac A Servicer must report all Mortgages that are subject to a repayment plan or a short or long-term forbearance plan resulting from disaster-caused hardship via an EDR transmission using default code 09 for forbearance or default code 12 for a repayment plan within the first three Business Days of the month following the month that the plan was entered into. The Servicer must continue to report that the Mortgage is under the plan until the Mortgage is fully reinstated or the plan ends. Refer to Chapter 9203 for more details.