DSNews The homepage of the servicing industry
""Freddie Mac"":http://www.freddiemac.com/ is giving servicers more time to adopt several new requirements concerning its default-related legal services.
In a ""bulletin"":http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1309.pdf Tuesday, the GSE announced servicers have until August 1 of this year to comply with certain requirements related to law firms retained to handle default legal matters for Freddie Mac loans. The original effective date was June 1.
The GSE also advised servicers to submit Servicer Selection Forms by June 15 so that other requirements for law firm eligibility can be met by August 1.
More information on the extension and what it covers can be found on the GSE's
""website"":http://www.freddiemac.com/service/msp/default_legal_services.html.
A spokesperson confirmed Fannie Mae is not offering the same extension.
