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.
The flurry of bulk sales of mortgage servicing rights continued into the third quarter, helping shift market share in the GSE market to larger firms. (Includes two data tables.)
Fannie Mae and Freddie Mac released details on FHFA’s new policy of extending natural disaster-related reps-and-warranty relief to mortgagees impacted by the pandemic.
Freddie takes steps to ensure its older multifamily housing stock is in adequate repair. This is particularly crucial for properties in affordable housing programs.
High failure rates for lenders trying to implement new edits to certain fee disclosure requirements in Phase 3B of the Uniform Closing Database persuaded Fannie and Freddie to postpone those changes.
As of March, Freddie was named master servicer for 180 securitized transactions comprised of 11,500 loans with a combined unpaid principal balance of $44.1 billion.
Chase Home Finance solidified its position as the largest GSE servicer in the second quarter while the servicing portfolio at second-ranked Wells Fargo continued to shrink.
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