Tag Archives: Freddie directs servicers to use Hardest Hit Fund in short sales

Freddie Mac wants mortgage servicers to use funds from an underutilized federal program to help homeowners through short sales and other foreclosure alternatives. The mortgage giant, in a letter to its servicers Monday, said they now must participate in Hardest Hit Fund transition assistance programs from 18 states and the District of Columbia. The directive, issued Monday, is effective immediately. The requirement applies to borrowers for short sales, deed-in-lieu deals or relocation assistance, but only if they don’t interfere with Freddie rules. The letter to mortgage servicers comes as Freddie […]