Do we own Your Mortgage? (#1) · Issues · Nathaniel Doyne / nosazz

Do we own Your Mortgage?

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1. Home.

Dealing with Us

Deed-in-Lieu

- Overview.

All Resources

What is a Deed-in-Lieu?

A deed-in-lieu (" deed in lieu of foreclosure") is a borrower's voluntary conveyance of clear and of the residential or commercial property to Freddie Mac in exchange for a discharge of financial obligation.

Starting

If a debtor's challenge is long-term and they're not able to be approved for any retention options or a short sale option, the Servicer should evaluate the customer for a deed in lieu of foreclosure, a much faster and simpler procedure that enables having a hard time homeowners to exit gracefully from their homes.

The basic deed-in-lieu streamlines and simplifies the deal by:

- Avoiding foreclosure.
- Providing to $7,500 in moving assistance for house owners who meet specific requirements.
- Accelerating the decision-making procedure by entrusting approval of authority to Servicers.

Borrower Eligibility

All customers are qualified for a deed-in-lieu under the following conditions:

- A borrower who doesn't meet the requirements for a structured deed in lieu of foreclosure should be experiencing or have experienced among the eligible difficulties listed in Single-Family Seller/Servicer Guide (Guide) Section 9202.2( a).
- The debtor should be able to communicate clear and marketable title to the mortgaged facilities to Freddie Mac.
- The customer isn't delinquent, hasn't gotten a brand-new mortgage in the six months preceding the borrower's delinquency or, if the customer is present in the 6 months preceding evaluation for a deed-in-lieu, the customer is just permitted to have gotten a brand-new mortgage if their eligible difficulty was far-off work transfer.
- if the Borrower is existing, in the 6 months preceding the assessment of the Borrower for a deed-in-lieu of foreclosure.
- The Borrower is only allowed to have gotten a new Mortgage if the Borrower's qualified difficulty was far-off work transfer.
Exceptions: There are some scenarios where the Servicer need to submit a deed-in-lieu recommendation to Freddie Mac:

- If the residential or commercial property is condemned and/or broker rate opinion (BPO) shows that the residential or commercial property has actually been improperly preserved, has structural/foundation issues or needs major repair work.
- If a debtor does not meet eligibility requirements for a deed in lieu of foreclosure but the Servicer feels it may be the finest option for attending to the delinquency. The Servicer needs to also send a complete Borrower Response Package (BRP).
However, unless informed by Freddie Mac, all Servicers are delegated to authorize a deed in lieu of foreclosure that meets the eligibility requirements of Section 9209.2( a)

Borrower Documentation

Borrower documentation is based on delinquency. Borrowers who are more than 18 months overdue should be examined for a structured deed-in-lieu.

For more details about deeds-in-lieu, refer to Chapter 9209.

All Resources

Guide and policy

Guided Answer: Deed-in-Lieu. Guide Section 9201.2: Freddie Mac loss mitigation assessment hierarchy. Guide Section 9101.4: Foreclosure suspension obligations and extra brief sale and deed-in-lieu of foreclosure requirements once the First Complete Borrower Response Package is gotten. Guide Section 9208.8: Closing, reporting, drafting and remittance requirements for short sales and make-whole preforeclosure sales

Factsheets and checklists

Home Affordable Foreclosure Alternatives (HAFA).
Foreclosure Sale Bidding Instructions

Helping you understand basic deed-in-lieu

Guided Answer: Deed-in-Lieu

Related resources and help

Freddie Mac Standard Short Sale FAQ.
Subscription Center

Get and remain gotten in touch with Freddie Mac Single-Family. Sign up for our e-mails and we'll send out the details that you want directly to your email inbox.

Insights, products, and [technology](https://katbe.com) to assist you grow your service.
- Seller/Servicer Guide 
 Learn how to work with us with our Guide Bulletins and Industry Letters. 
 - My Home by Freddie Mac&reg; 
 & reg; Resources to assist you lease, buy, and own your home.
- Do we own your mortgage? 
 Learn if Freddie Mac owns your loan using our protected lookup tool.
- Did we fund your apartment or condo? 
 Use our lookup tool to see if Freddie Mac funded your home building.
- CreditSmart&reg; 
 & reg; Financial and homeownership education resources everything about you. 
 - Dealing with Us
- Technology
- Learning
- News & Insights
- Search
- Seller/Servicer Guide 
 - Toggle 
 - Working with Us - Become a Seller/Servicer - Responsible Lending
- Resources for Responsible Lending
- Requirements
- Annual Certification and Change and Activity Reporting 
 - Improving Workflow
- Mortgage Products
- Resources & Learning 
 - Selling with Confidence
- Delivery, Options & Pricing
- Resources & Learning 
 - Servicing Excellence
- Servicing Products and Programs
- Resources 
 - Solutions
- Reaching Borrowers
- News & Insights 
 - eDisclosures and [eClosings](https://luxea.co.uk)
- eMortgages
- Participants and Vendors
- Review/Approval Requirements
- eSign for Loss Mitigation
- eMortgage Client Trainings 
 - Fraud Prevention and Best Practices
- Exclusionary List 
 - Supporting Customers
- Education & Insights 
 - HFA Resource Center
- Housing Finance Agency Forms
- Contact Us 
 - Training 
 - Integrated SMAs 
 - System Status - Freddie Mac Gateway
- Condo Project Advisor
- Loan Collateral Advisor
- Loan Closing Advisor
- Loan Collateral Advisor
- Loan Coverage Advisor
- Loan Product Advisor
- Loan Quality Advisor
- Loan Selling Advisor
- Quality Control Advisor
- Attorney Data Reporting (ADR).
- BPODirect.
- Cash Manager.
- Default Fee Appeal System.
- Electronic Default Reporting (EDR).
- eBill.
- Loan Level Reporting.
- Payments Automated Intelligent and Dynamic (PAID).
- Post-Fund Data Correction Tool.
- Real Estate Valuation and Pricing.
- Resolve.
- Servicer Performance Profile.
- Servicing Data Corrections.
- Servicing Transfer Manager.
- Total MI Claims.
- Total MI Reconciliations 
 - Our Solutions.
- Get Going with Freddie Mac Gateway.
- Technology Releases.
- Technology [Release](https://nearestate.com) Archive.
- Technology Learning.
- Freddie Mac Tools Request Form 
 - Start 
 - Software Partner Resource Center 
 - Origination APIs.
- Starting with APIs 
 - Begin with ECO 
 - Uniform Appraisal Dataset.
- Uniform Closing Dataset.
- Uniform Collateral Data Portal.
- Uniform Loan Delivery Dataset 
 - 2001 Construction Conversion Modification Agreements.
- 2021 Updated Instruments.
- News & Updates 
 - Beginning.
- Origination & Underwriting.
- Selling & Delivery.
- Servicing.
- Loan Product [Advisor Training](https://dmaxx.ae).
- Income.
- Affordable Lending.
- Mortgage Products.
- Pricing & Contracting.
- Manage Loan Data.
- Loan Delivery.
- Funding & Settlement.
- General Servicing.
- Investor Accounting.
- Foreclosure Management.
- Loss Mitigation 
 - All Insights & Research.
- All News & Announcements.
- Mortgage Technology.
- Business.
- Market of the Future.
- Home Starts Here Podcast 
 - Process.
- Become a Seller/Servicer.
- Origination & Underwriting.
- Selling & [Delivery](https://theofferco.com).
- Servicing 
 - Programs.
- Affordable Lending.
- CreditSmart.
- DPA One.
- eMortgage.
- Foreclosure Prevention.
- Fraud Prevention 
 - Partners.
- Housing Counselors.
- Housing Finance Agencies 
 - Spacer Only.
- Real Estate Professionals.
- Secondary Market Advisors.
- Software Partners 
 - Featured Technology.
- System Status.
- Freddie Mac [Gateway](https://lepatioimmobilier.tn).
- Access Manager 
 - Spacer.
- TPO Direct Access [Sign-up](https://westcoastfsbo.com).
- TPO Sponsored Access Sign-up.
- Software Partners 
 - Spacer.
- API Solutions.
- ECO: Evaluate|Compare|Optimize 
 - Spacer.
- Uniform Mortgage Data Program (UMDP).
- Uniform Instruments 
 - Training Areas.
- Getting Started.
- Origination & [Underwriting](https://www.myownvacationrentals.com).
- Selling & Delivery.
- Servicing 
 - Origination & Underwriting.
- Loan Product Advisor Training.
- Income.
- Affordable Lending.
- Mortgage Products 
 - Selling & Delivery.
- Pricing & Contracting.
- Manage Loan Data.
- Loan Delivery.
- Funding & Settlement 
 - Servicing.
- General Servicing.
[- Investor](https://gjmi-immo.com) Accounting.
- Foreclosure Management.
- Loss Mitigation 
 [- Browse](https://mycaravanrental.co.uk).
- All Insights & Research.
- All News & Announcements 
 - Featured Topics.
- Mortgage Technology.
- Business.
- Market of the Future 
 - Media.
- Home Starts Here Podcast 
 - Servicing.
- Servicing Excellence.
- Products & Programs.
- Resources.
- Login 
 Servicing Excellence.
 Resources.
 Login 
 1. Home.
2. Dealing with Us 
 Deed-in-Lieu 
 - Overview.
- All Resources 
 What is a Deed-in-Lieu? 
 A deed-in-lieu (" deed in lieu of foreclosure") is a borrower's voluntary conveyance of clear and of the residential or commercial property to Freddie Mac in exchange for a discharge of financial obligation. 
 Starting 
 If a debtor's challenge is long-term and they're not able to be approved for any retention options or a short sale option, the Servicer should evaluate the customer for a deed in lieu of foreclosure, a much faster and simpler procedure that enables having a hard time homeowners to exit gracefully from their homes. 
 The basic deed-in-lieu streamlines and simplifies the deal by: 
 - Avoiding foreclosure.
 - Providing to $7,500 in moving assistance for house owners who meet specific requirements.
 - Accelerating the decision-making procedure by entrusting approval of authority to Servicers.
 
Borrower Eligibility 
 All customers are qualified for a deed-in-lieu under the following conditions: 
 - A borrower who doesn't meet the requirements for a structured deed in lieu of foreclosure should be experiencing or have experienced among the eligible difficulties listed in Single-Family Seller/Servicer Guide (Guide) Section 9202.2( a).
 - The debtor should be able to communicate clear and marketable title to the mortgaged facilities to Freddie Mac.
 - The customer isn't delinquent, hasn't gotten a brand-new mortgage in the six months preceding the borrower's delinquency or, if the customer is present in the 6 months preceding evaluation for a deed-in-lieu, the customer is just permitted to have gotten a brand-new mortgage if their eligible difficulty was far-off work transfer.
 - if the Borrower is existing, in the 6 months preceding the assessment of the Borrower for a deed-in-lieu of [foreclosure](https://katbe.com).
 - The Borrower is only allowed to have gotten a new Mortgage if the Borrower's qualified difficulty was far-off work transfer.
 
Exceptions: There are some scenarios where the Servicer need to submit a deed-in-lieu recommendation to Freddie Mac: 
 - If the residential or commercial property is condemned and/or broker rate opinion (BPO) shows that the residential or commercial property has actually been improperly preserved, has structural/foundation issues or needs major repair work.
 - If a debtor does not meet eligibility requirements for a deed in lieu of foreclosure but the Servicer feels it may be the finest option for attending to the delinquency. The Servicer needs to also send a complete Borrower Response Package (BRP).
 
However, unless informed by Freddie Mac, all [Servicers](https://residence.my) are delegated to authorize a deed in lieu of foreclosure that meets the eligibility requirements of Section 9209.2( a) 
 Borrower Documentation 
 Borrower documentation is based on [delinquency](https://phineek.com). Borrowers who are more than 18 months overdue should be examined for a structured deed-in-lieu. 
 For more details about deeds-in-lieu, refer to Chapter 9209. 
 All Resources 
 Guide and policy 
 Guided Answer: Deed-in-Lieu.
Guide Section 9201.2: Freddie Mac loss mitigation assessment hierarchy.
Guide Section 9101.4: Foreclosure suspension obligations and extra brief sale and deed-in-lieu of foreclosure requirements once the First Complete Borrower Response Package is gotten.
Guide Section 9208.8: Closing, reporting, drafting and remittance requirements for short sales and make-whole preforeclosure sales 
 Factsheets and checklists 
 Home Affordable Foreclosure Alternatives (HAFA).
 Foreclosure Sale Bidding Instructions 
 
Helping you understand basic deed-in-lieu 
 Guided Answer: Deed-in-Lieu 
 Related resources and help 
 Freddie Mac Standard Short Sale FAQ.
 
Subscription Center 
 Get and remain gotten in touch with Freddie Mac Single-Family. Sign up for our e-mails and we'll send out the details that you want directly to your email inbox.