9204.1: Freddie Mac workout options (03/02/16)

Owned by Kacey Olson
Nov 23, 2018
1 min read

© Freddie Mac Single-Family Seller Servicer Guide

Servicers must evaluate Borrowers in accordance with the Freddie Mac loss mitigation evaluation hierarchy set forth in Section 9201.2. The evaluation hierarchy states the order in which a Servicer is to evaluate a Borrower for Freddie Mac's available workout options which include mortgage modifications, workout mortgage assumptions, short sales, deeds-in-lieu of foreclosure and charge-offs.

If a Borrower's situation does not meet all the requirements for a particular workout option, but the Servicer believes that the workout option is still the best solution to the Delinquency, then the Servicer may submit a recommendation and rationale for the recommendation to Freddie Mac for review, in accordance with the submission procedures in this chapter.