Freddie Mac: Servicers Need to Diversify Foreclosure, Bankruptcy Referrals

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 · Get a mortgage after foreclosure, bankruptcy. today are sold to Fannie Mae or Freddie Mac, or insured by the Federal Housing Administration (FHA).. still in a Chapter 13 bankruptcy. They.

Freddie Mac is updating the maximum allowable amounts it will reimburse Servicers for attorney fees related to foreclosure and DIL in certain jurisdictions. Additionally, for bankruptcy fees, Freddie Mac is updating the current structure from a baseline attorney fee model to a "Menu Billing" fee model nationwide.

bankruptcy case must be considered for HAMP if the borrower, borrower’s counsel or bankruptcy trustee submits a request to the servicer. Borrowers may not be denied a permanent HAMP modification on the basis of a bankruptcy filing. Servicers cannot object to confirmation of a chapter 13 plan, move for relief from the automatic stay, or

Freddie Mac Pushes Out Foreclosure Timelines. Freddie Mac also said it will temporarily reimburse the cost of leaving a door hanger up to $15 per mortgage, and up to $50 per mortgage for a door knocking that results in the borrower contacting their servicer — certainly good news for companies like Titanium Solutions and the servicers.

Servicers must also give consideration to a firm’s membership in default-related and REO-related trade and industry groups, jurisdiction bar event participation, seminar and lecture participation and attendance, and any other activities relevant to mortgage default and REO law practice.

Freddie Mac Recognizes Top Default Servicers. Freddie Mac ranks its servicers against monthly performance benchmarks for investor reporting, minimizing credit losses, and helping delinquent borrowers avoid foreclosure. Tier One Platinum rankings are given to larger servicers for attaining at least two quarters of Tier One (superior).

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Freddie Mac will send a Limited Retention Agreement to the law firm. The law firm must sign and return the Limited Retention Agreement to Freddie Mac. The law firm then can take the required training tutorial for new law firms.

Barclays analyst sees housing rebound coming in 2012 Barclays Analyst Sees Housing Rebound Coming in 2012. Barclays Capital (BCS: 11.52 -4.24%) analyst Stephen Kim predicts a housing recovery buoyed by improving jobs numbers and the fact prices for nondistressed homes will have stabilized without government support.

Click through to learn more about the financial services law firms that. sound legal advice and exceptional services while being sensitive to their need for. and credit unions-specifically including Fannie Mae and Freddie Mac.. American Bankruptcy Institute, American Mortgage Diversity Council,

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CRL said Congress should also allow bankruptcy judges to modify the terms of mortgage loans for borrowers who file for Chapter 13 bankruptcy protection, saying it could prevent up to 600,000.