Industry trade groups noted that the increase comes on top of a 400% price hike over the past two years. They also argued that the credit re-porting bureaus will inevitably add additional price hikes.
Freddie is adding loan mod functions to its Resolve system and retiring Workout Prospector. The GSE is also setting new fraud reporting requirements for lenders and servicers.
The mortgage giant has implemented a requirement that seller/servicers maintain and share records of the types of fraud they see as well as any specific fraud cases they’re aware of.
FHFA and its Office of Inspector General both missed the Bureau of Fiscal Service’s faulty calculation of the agency watchdog’s yearend payroll liability.
Freddie clarifies how servicers should handle COVID-19 flex modifications for borrowers who recently became delinquent. Fannie announces a tool to compute the monthly income of self-employed borrowers.
Servicers should see several enhancements to Freddie’s Resolve platform and its APIs, including a dashboard they can use to manage their pipeline and track charge-offs.
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