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Freddie Mac works to minimize disruptions during government shutdown

Oct 08, 2013
Freddie Mac has issued temporary guidance to lenders to minimize disruptions to the mortgage market during the current government shutdown. They will now allow lenders to deliver mortgages to Freddie Mac when the borrower is not receiving a paycheck as a result of the shutdown, provided the loan meets Freddie Mac’s other requirements and the lender expects the borrower to return to work when the government reopens. 

Freddie Mac also is offering mortgage relief policies to public and private sector employees affected by the government halt, meaning servicers can provide eligible borrowers forbearances that must not be reported to credit bureaus.

To read the entire Freddie Mac press release, click here.
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