Freddie Mac Servicers to refer borrowers to a HUD-approved counseling agency for early delinquency counseling

Today’s Freddie Mac Guide Bulletin 2016-9 announces the following update, among others:

The option for Freddie Mac Servicers to refer borrowers to a HUD-approved counseling agency for early delinquency counseling for Home Possible^® mortgages.

Currently, Freddie Mac Servicers may use the services of a nonprofit third-party homeownership counseling agency to conduct counseling when offering early delinquency counseling to borrowers with Home Possible^® mortgages, including Home Possible Advantage^® mortgages. Additionally, the Freddie Mac Servicer may conduct the counseling provided it has policies and procedures in place to offer the same kind of comprehensive counseling, budgeting and advising as a counseling agency.

Effective October 1, 2016, we are providing Freddie Mac Servicers the additional option to use the services of a HUD-approved nonprofit national counseling agency specified by Freddie Mac, without charge to the Servicer.

Please read Guide Bulletin 2016-9 for more details and for other servicing updates.

For More Information

• Read today’s Guide Bulletin 2016-9.
• For more information about the network of national counseling agencies, visit My Home by Freddie Mac^®.  

You don't need to read the bulletin. If you loan is Freddie Mac or not I can provide you with delinquency and default counseling at no charge. I am a certified housing counselor with a non-profit HUD-approved housing counseling agency.  Call me at 615-850-3453. This service is only provided in person at our Nashville office, however, you can call me for a referral and phone evaluation if you live outside the Nashville area.