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Freddie Mac Adjusts Approved Attorney Fees

Posted By USFN, Monday, June 17, 2019

by Edward Kirn, Esq.
Powers Kirn, LLC
USFN Member (NJ, PA)

On April 18, 2019, Freddie Mac released its most recent Guide Bulletin to Servicers addressing many important items, including making adjustments to the approved attorney’s fees and title expenses associated with uncontested foreclosures, some much needed adjustments to the approved Servicer reimbursement amounts for attorney fees associated with specific bankruptcy services, and also made some adjustment to the expense limit for skip tracing and investigative reports.  The bulletin also addressed changes and updates to property insurance loss settlements, partial releases of a lien and grants of easements and an Investor reporting change initiative.

Freddie Mac and Fannie Mae have consistently led the industry in establishing standards and benchmarks to ensure that the law firms handling the default servicing legal representation are justly compensated for the work they perform.  To this end, they have been responsible stewards of the industry.  Freddie and Fannie have also been welcoming business partners, always receptive to discussing the pressing issues that face our industry and equally responsive in collaborating with USFN and other industry participants in developing working solutions to ensure that the default servicing industry operates as smoothly and efficiently as possible.

 

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June e-Update

 

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