Freddie Mac Seller/Servicer Guide 8601.5: Default management, foreclosure processes and legal considerations
The brown font text used throughout this chapter denotes the special requirements for Servicing Senior Subordinate Mortgages.
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 8601.5 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
What this section covers
- (a) General requirements for Freddie Mac Default Legal Matters
- (b) Referral to foreclosure documentation requirements
- (c) Foreclosing in the Servicer’s name
- (d) Expedited foreclosures
- (e) Deficiency rights
- (f) Non-routine default-related legal matters
- (g) Counsel retained by Servicers pursuant to Servicer’s duty to indemnify Freddie Mac
- (h) Retention of firm
- (i) Referral of Freddie Mac Default Legal Matters to firm
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.