Transcription of Freddie Mac Flex Modification Reference Guide
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Freddie Mac Flex Modification Reference Guide
Freddie Mac flex Modification Reference Guide January 2022 January 2022 Freddie Mac Learning Page i Freddie Mac flex Modification Reference Guide Eligibility Requirements for flex Modifications ..2 Exclusions ..4 Exceptions ..5 Soliciting the Borrower for a flex Modification ..5 Streamlined Offer for flex Evaluating the Borrower for a flex Modification ..6 Documentation Requirements for flex Modifications ..7 Determine the Post- Modification MTMLTV Ratio ..7 flex Modification for Borrowers with a COVID-19 Related Hardship ..8 Determine Eligibility for a flex Modification Trial Period plan Based on Estimated Modification Terms: Borrowers with a COVID-19 Related Hardship ..8 Determine Eligibility for a flex Modification Trial Period plan Based on Estimated Modification Terms: Post- Modification MTMLTV Ratio Greater than or Equal to 80 Percent.
Borrowers who, within 12 months of the evaluation date, failed a Flex Modification Trial Period Plan and the terms of the Trial Period Plan were determined in accordance with Guide Section 9206.10(a) Mortgages subject to an approved short sale or deed-in-lieu transaction
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