Freddie Mac speeds up availability of streamlined loan mods

If you’re more than 90 days behind on your mortgage, Fannie Mae and Freddie Mac consider your loan to be in severe risk of foreclosure. That’s the end result flex modification aims to avoid. In those instances, there’s a streamlined version of Flex Modification that doesn’t require.

Streamlined Loan Modification Program Frequently Asked questions: important bulletin: december 14, 2016 – In Single-Family Seller/Servicer Guide (Guide) Bulletin 2016-22 [PDF], Freddie Mac announced the new Freddie Mac Flex Modification, which is designed to offer you an easier, flexible way of helping more borrowers qualify for a loan modification in a changing housing environment.

The modified terms can include your interest rate, loan duration, and loan type (e.g., changing from an ARM to a fixed-rate mortgage). If you are several months behind on your mortgage, or expect you will fall behind soon, a loan modification can make your monthly payments more affordable and help you avoid foreclosure.

U.S. stocks shot up from session lows on the report. controlled mortgage finance companies Fannie Mae and Freddie Mac, told Reuters the industry was eager to have a standardized loan modification.

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Fannie, Freddie Create New Mortgage Loan Modification Program Now that HAMP is ending, Fannie Mae and Freddie Mac have announced a new "Flex Modification" home loan modification program. This article summarizes the new program and more detail is found on the online version of NCLC’s Foreclosures and Mortgage Servicing 5.11.3a.

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Fannie Mae and Freddie Mac announced recently that their replacement for the Home Affordable Modification Program is the Flex Modification foreclosure prevention program, which is designed to help.

The loan servicer. that banks couldn’t keep up with the paperwork. The mortgage industry depended on a digital overlay of its own invention, Mortgage Electronic Registration Systems, a database.

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Freddie Mac announced the immediate availability of its streamlined modification program for delinquent borrowers on Monday, pushing up the roll out from its originally scheduled launch.