According to Bulletin Numbered 2011-5, issued March 23rd, 2011, Freddie Mac has made the following changes with respect to their servicing requirements:
1) Permitting Servicers to postpone foreclosure sales hangled by designated counsel as long as the newly schedule foreclosure sale date is within Freddie Mac's state foreclosure time lines;
2) Eliminating the option to foreclose in the name of Mortgage Electronic Registration Systems Inc.
3) Revising their requirements relating to foreclosure and bankruptcy referrals to:
a) Provide additional details about Servicer's Servicing obligations and expressly prohibit Servicers from charging Freddie mac, trustees or attorney for Servicing obligation compensated by the Servicing Spread.
b) Add a requirement that prohibits Servicers from contracting, or making arrangements, with attorneys or trustees whereby the Servicer recieves any financial or other benefits, directly or indirectly, from the attorneys or trustees.
c) Add a requirement that prohibits from Servicers from requiring attorneys or trustees to use specific vendors, services or products, except for connectivity and invoice processing systems used by the Servicer.
Here is the link to the report
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