See for a description of Freddie Mac disaster relief policies.įreddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.Affected borrowers should immediately contact their mortgage servicer-the company to which they send their monthly mortgage payment.Freddie Mac is reminding servicers to consider borrowers who are impacted by the storm, but who live and work outside of an eligible disaster area, for Freddie Mac’s standard relief policies, which include forbearance and mortgage modifications.Not reporting forbearance or delinquencies caused by the disaster to the nation’s credit bureaus.Waiving assessments of penalties or late fees against borrowers with disaster-damaged homes and.Suspending foreclosures by providing forbearance for up to 12 months.Freddie Mac mortgage relief options for affected borrowers in eligible disaster areas include:.A list of these areas can be found on the FEMA’s website. Freddie Mac disaster relief policies authorize mortgage servicers to help affected borrowers in eligible disaster areas: those federally-declared Major Disaster Areas where federal individual assistance programs have been extended.We stand ready to ensure that mortgage relief is made available.” “Once safe from this dangerous storm, we strongly encourage homeowners whose homes or places of employment have been impacted by Hurricane Michael to call their mortgage Servicer-the company to which borrowers send their monthly mortgage payments-to learn about available relief options. “Safety is our top priority for those in the Florida panhandle and nearby states as Hurricane Michael approaches,” said Yvette Gilmore, Freddie Mac’s Vice President of Single-Family Servicer Performance Management. In areas where the Federal Emergency Management Agency (FEMA) has not yet made individual assistance available, mortgage servicers may immediately leverage Freddie Mac’s short-term forbearance programs to provide mortgage relief to their borrowers that have been affected by the hurricane. Freddie Mac’s disaster relief options are available to borrowers whose homes or places of employment are located in presidentially-declared Major Disaster Areas where federal individual assistance programs are made available to affected individuals and households.

(GLOBE NEWSWIRE) - Freddie Mac(OTCQB: FMCC) today reminded Servicers of its disaster relief policies for borrowers who have been affected by Hurricane Michael.

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