Freddie Mac Single-Family Seller/Servicer Guide 9601 — Deficiency Recovery
Chapter 9601 of the Freddie Mac Single-Family Seller/Servicer Guide governs deficiency recovery and management: working with vendors to collect deficiencies, assigning deficiency rights after the foreclosure sale, and charging off the deficiency. NOTE: actual title is "Deficiency Recovery", not "Property Inspection/Preservation".
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 9601 — Deficiency Recovery — 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 9601.1(b) — Assigning deficiency rights after the foreclosure sale
the Servicer must not execute any assignment of the right to pursue a deficiency or assignment of a deficiency judgment to an MI or a third party. These documents must be sent directly to Freddie Mac (see Directory 5). Freddie Mac will coordinate the execution of these assignment documents. The Servicer may execute deficiency assignment documents that transfer deficiency rights from the Servicer to Freddie Mac when requested by an MI or third-party vendor.
Freddie Mac Guide Section 9601.1(c) — Reviewing and reporting Draft Report discrepancies
The Servicer must review the Draft Report and report any discrepancies between its records and the amount on the Draft Report to Freddie Mac via the Freddie Mac Servicing Data Corrections tool (see Exhibit 88) within the same Accounting Cycle in which Freddie Mac posts the amount to the Draft Report.
Freddie Mac Guide Section 9601.1(c) — Discrepancy calculation and supporting documentation
When reporting a discrepancy, Servicers must input the calculation used to determine the variance and upload any documentation to support the request in the Servicing Data Corrections tool. Freddie Mac will process, at its discretion, discrepancies that are submitted more than 60 calendar days after the initial adjustment is posted to the Draft Report. Such discrepancies may be subject to a contract noncompliance and contract change compensatory fee (see Section 8303.5(i)). If the postsettlement correction request is denied, the Servicer may be liable for any additional losses.
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Source of record: https://claudeforcompliance.com/regs/fhlmc-9601/
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