Freddie Mac Single-Family Seller/Servicer Guide Chapter 9204 — Freddie Mac Workout Options

fhlmc-9204

Chapter 9204 of the Freddie Mac Single-Family Seller/Servicer Guide governs Freddie Mac workout options: Servicer evaluation, delegated approval authority, processing and documentation for workout recommendations, compensation, and prohibition of certain Borrower fees. NOTE: actual title is "Freddie Mac Workout Options", not "Trial Period Plans".

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source:
  type: regulation
  id: fhlmc-9204
  authority: Freddie Mac Single-Family Seller/Servicer Guide Chapter 9204 — Freddie Mac Workout Options
  description: |
    Chapter 9204 of the Freddie Mac Single-Family Seller/Servicer Guide
    governs Freddie Mac workout options: Servicer evaluation, delegated
    approval authority, processing and documentation for workout
    recommendations, compensation, and prohibition of certain Borrower
    fees. NOTE: actual title is "Freddie Mac Workout Options", not
    "Trial Period Plans".
obligations:
  - id: fhlmc-9204-evaluate-under-loss-mit-hierarchy
    canonical_id: fhlmc-9204-evaluate-under-loss-mit-hierarchy
    section: Freddie Mac Guide Section 9204.1(a) — Freddie Mac workout options
    description: |
      [LENDER] must evaluate Borrowers in accordance with the Freddie Mac
      loss mitigation evaluation hierarchy set forth in Section 9201.2 for
      Freddie Mac's available workout options including Mortgage
      modifications, workout Mortgage assumptions, short sales,
      deeds-in-lieu of foreclosure, and charge-offs.
    type: do
    audit_question: Can [LENDER] evidence that, for every Borrower considered for a workout option (Mortgage modification, workout Mortgage assumption, short sale, DIL, or charge-off), evaluation followed the Section 9201.2 loss mitigation hierarchy?
    program_review: Does the program ensure Borrowers are evaluated under the §9201.2 hierarchy for the available workout options (modifications, workout assumptions, short sales, deeds-in-lieu, charge-offs)?
    file_review: For workout files, confirm the §9201.2 hierarchy drove the option evaluation.
    judgment: false
    feeds:
      - fhlmc-9204-collect-and-analyze-documentation
    workflow_phase: servicing
    owner_role: loss_mitigation_specialist
    secondary_owner_role: compliance_officer
    cadence: per-workout-evaluation
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fhlmc
      - freddie-mac
      - servicing-guide
      - workout
      - hierarchy
      - promoted
    primary_source:
      tier: 1
      authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9204.1(a)
      source_class: fhlmc-guide
      source_url: https://guide.freddiemac.com/ci-guide
      snapshot_id: 5869ee9e606cd4ae
      fetched_at: '2026-05-23T00:27:40Z'
      content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
      paragraph_quote: Servicers must evaluate Borrowers in accordance with the Freddie Mac loss mitigation
      drafter_attestation: Copied verbatim from Freddie Mac Guide snapshot 5869ee9e606cd4ae (Chapter 9204) at 2026-05-22.
    promoted_at: '2026-05-23T01:04:35+00:00'
    promoted_from: fhlmc-9204-roundb-v1.yaml
  - id: fhlmc-9204-collect-and-analyze-documentation
    canonical_id: fhlmc-9204-collect-and-analyze-documentation
    section: Freddie Mac Guide Section 9204.2(a)(i) — Steps for completing a workout
    description: |
      [LENDER] must collect and analyze the required documentation and
      information in accordance with Chapter 9204 and Chapter 9202 as a
      required step for completing a workout.
    type: do
    audit_question: Can [LENDER] evidence that, for every Freddie Mac workout it processed, required documentation and information were collected and analyzed in accordance with Chapter 9204 and Chapter 9202?
    program_review: Does the program ensure required documentation/information is collected and analyzed per Chapters 9204 and 9202 as a step for completing a workout?
    file_review: For completed workouts, confirm the required documentation was collected; the compliance person judges whether the analysis met Chapters 9204/9202.
    judgment: true
    feeds:
      - fhlmc-9204-perform-closing-activities-within-fm-timeframes
    workflow_phase: servicing
    owner_role: loss_mitigation_specialist
    secondary_owner_role: compliance_officer
    cadence: per-workout-event
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fhlmc
      - freddie-mac
      - servicing-guide
      - workout
      - documentation
      - due-diligence
      - promoted
    primary_source:
      tier: 1
      authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9204.2(a)(i)
      source_class: fhlmc-guide
      source_url: https://guide.freddiemac.com/ci-guide
      snapshot_id: 5869ee9e606cd4ae
      fetched_at: '2026-05-23T00:27:40Z'
      content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
      paragraph_quote: 1. The Servicer must collect and analyze the required documentation and information in
      drafter_attestation: Copied verbatim from Freddie Mac Guide snapshot 5869ee9e606cd4ae (Chapter 9204) at 2026-05-22.
    promoted_at: '2026-05-23T01:04:35+00:00'
    promoted_from: fhlmc-9204-roundb-v1.yaml
  - id: fhlmc-9204-perform-closing-activities-within-fm-timeframes
    canonical_id: fhlmc-9204-perform-closing-activities-within-fm-timeframes
    section: Freddie Mac Guide Section 9204.2(a)(i) — Closing a workout within Freddie Mac timeframes
    description: |
      [LENDER] must perform all activities required for closing a workout
      within Freddie Mac's required time frames, including settlement
      transactions, recording required documents, reporting the transaction
      to Freddie Mac, remitting funds collected, and submitting requests
      for reimbursement of allowable expenses within 30 days of settlement.
    type: do
    audit_question: Can [LENDER] evidence that, for every Freddie Mac workout it closed, all closing activities (settlement, recording, transaction reporting, remitting funds, reimbursement requests) were performed within Freddie Mac's required time frames?
    program_review: Does the program ensure all workout-closing activities (settlement, recording, transaction reporting, remitting funds, reimbursement requests within 30 days of settlement) occur within Freddie Mac's required timeframes?
    file_review: For closed workouts, confirm each closing activity landed within its required timeframe, including reimbursement requests within 30 days of settlement.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: loss_mitigation_specialist
    secondary_owner_role: compliance_officer
    cadence: per-workout-closing
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fhlmc
      - freddie-mac
      - servicing-guide
      - workout
      - closing-timeframes
      - promoted
    primary_source:
      tier: 1
      authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9204.2(a)(i)
      source_class: fhlmc-guide
      source_url: https://guide.freddiemac.com/ci-guide
      snapshot_id: 5869ee9e606cd4ae
      fetched_at: '2026-05-23T00:27:40Z'
      content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
      paragraph_quote: 4. The Servicer must perform all activities required for closing a workout within Freddie
      drafter_attestation: Copied verbatim from Freddie Mac Guide snapshot 5869ee9e606cd4ae (Chapter 9204) at 2026-05-22.
    promoted_at: '2026-05-23T01:04:35+00:00'
    promoted_from: fhlmc-9204-roundb-v1.yaml
_promotion_history:
  - promoted_at: '2026-05-23T01:04:35+00:00'
    candidate_path: obligations\_remediation\_round_b_drafts\fhlmc-9204-roundb-v1.yaml
    candidates_promoted: 3
    candidates_skipped_existing: 0

Verbatim regulatory text (3)

Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide Chapter 9204 — Freddie Mac Workout Options — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Freddie Mac Guide Section 9204.1(a) — Freddie Mac workout options

Servicers must evaluate Borrowers in accordance with the Freddie Mac loss mitigation

Source: Freddie Mac Single-Family Seller/Servicer Guide Section 9204.1(a) · source URL · snapshot 5869ee9e606cd4ae

Freddie Mac Guide Section 9204.2(a)(i) — Steps for completing a workout

1. The Servicer must collect and analyze the required documentation and information in

Source: Freddie Mac Single-Family Seller/Servicer Guide Section 9204.2(a)(i) · source URL · snapshot 5869ee9e606cd4ae

Freddie Mac Guide Section 9204.2(a)(i) — Closing a workout within Freddie Mac timeframes

4. The Servicer must perform all activities required for closing a workout within Freddie

Source: Freddie Mac Single-Family Seller/Servicer Guide Section 9204.2(a)(i) · source URL · snapshot 5869ee9e606cd4ae