Freddie Mac's Streamlined Modification Program Goes Nationwide

May 14, 2013
MortgageOrb.com  
mortgage lending news

Freddie Mac confirms that its Streamlined Modification program is now available to all eligible borrowers across the country. The initiative, initially scheduled for a July 1 nationwide launch, compels servicers to send modification offers to borrowers who are at least 90 days delinquent on home loans that are at least a year old and that meet other eligibility criteria. The workouts become permanent once borrowers prove they can make on-time payments during a three-month trial period. Borrowers are not required to submit documentation for a Streamlined Modification.
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