Freddie Mac Single-Family Seller/Servicer Guide 3501.1 — Freddie Mac Servicer Success File Reviews

Freddie Mac Single-Family Seller/Servicer Guide 3501.1 — Freddie Mac Servicer Success File Reviews

Effective 2025-11-19 · Freddie Mac's stamp for this section

This section contains requirements related to: ■ Types of File Reviews ■ File Review requests ■ Review conclusions and appeal As part of the Servicing Success Program, as described at https://sf.freddiemac.com/content/_assets/resources/pdf/step-by-stepguides/serv_success_prog.pdf, Freddie Mac will be conducting reviews of delinquent Mortgage files from time to time as discussed below. These file reviews (“Servicer Success File Reviews” or “File Reviews”) are in addition to any audit of Mortgage files specified in Section 8101.4(c). (a) Types of File Reviews Freddie Mac will notify a Servicer in writing that certain Mortgages have been selected for a Servicer Success File Review. Freddie Mac may conduct the following types of File Reviews: ■ Prudent Servicing Review: An assessment of the Servicer’s collection activities, loss mitigation activities, timeline management and property preservation processes ■ Short Sale Compliance Review: An assessment of the Servicer’s compliance with the requirements of the Guide and other Purchase Documents, as applicable, regarding completed short sales ■ Loan Modification Compliance Review: An assessment of the Servicer’s compliance with the requirements of the Guide and other Purchase Documents, as applicable, regarding completed modifications Freddie Mac may modify or expand the types of File Reviews from time to time. (b) File Review requests Freddie Mac will notify a Servicer in writing that certain Mortgages have been selected for a File Review. Servicers must comply with the instructions and any requirements set forth in a File Review request from Freddie Mac, which will: ■ Include the Freddie Mac loan numbers associated with the Mortgage files being requested, ■ Specify the documentation that must be included with each type of file (e.g., short sale under Chapter 9204 or modification under Chapter 9204 or 9205), ■ Provide detailed instructions on the manner in which the documents are to be submitted to Freddie Mac, and ■ State that Freddie Mac must receive the requested file documentation within 30 calendar days from the date of the letter requesting the documentation or such other time frame Freddie Mac specifies in the request All documentation sent to Freddie Mac may be used in the File Review, even if the Servicer includes documentation that is not required. Freddie Mac may request additional Mortgage files and/or additional documents during the File Review. The Servicer must submit the requested documentation in the manner specified by Freddie Mac, or Freddie Mac may refuse to accept the documentation. A Servicer’s failure to submit requested documentation will be considered a violation of the Purchase Documents, and Freddie Mac will pursue all rights and remedies available under the Purchase Documents and applicable law. Additionally, failure to submit the documentation is considered a file defect and may be considered in determining a Servicer’s overall performance in accordance with Section 3501.2. (c) Review conclusions and appeal Upon completion of the File Review, Freddie Mac will provide its conclusions, including any defects, in writing to the Servicer. Servicers may provide Freddie Mac with a response or appeal to the findings noted in Freddie Mac’s conclusions up to 15 Business Days after the date of Freddie Mac’s written conclusions. If an identified defect was the result of a missing or incorrect document, that document may be submitted with the Servicer’s appeal to support clearing the defect. If the Servicer failed to submit any documents in response to Freddie Mac’s initial File Review request on a Mortgage, and the overall result is “Fail – Missing Docs,” the Servicer may not appeal the defect for that Mortgage. Freddie Mac’s decision on the File Review shall be deemed conclusive and may be considered as a factor in determining a Servicer’s overall performance in accordance with Section 3501.2. Freddie Mac, in its sole and absolute discretion, may choose to rely on such conclusions or upon any other available information in determining whether to pursue any other right or remedy available to Freddie Mac under the Purchase Documents or applicable law. Note: File Reviews are not a substitute for the Servicer’s own internal quality control for default management activities.

Source: Freddie Mac Single-Family Seller/Servicer Guide 3501.1 — Freddie Mac Servicer Success File Reviews · source URL · snapshot 4c94f67729042dd6