Navigating the landscape of mortgage modifications and relief options can be a complex process for both homeowners and lenders. Among the myriad of forms and documents stands the Freddie Mac 461 form, a crucial piece in the mosaic of managing Freddie Mac single-family mortgages. Known officially as the "Servicer's Total Monthly Report," this form plays a pivotal role in facilitating transparent communication between servicers and Freddie Mac regarding the status of single-family loans. It collects detailed information about loan modifications, including trial periods for modifications, as well as permanently modified loans. Furthermore, it serves as a critical tool for servicers in reporting payment deferrals, forbearance plans, and other loan workout options. Through its comprehensive data collection, the Freddie Mac 461 form not only ensures that servicers adhere to Freddie Mac's guidelines and policies but also aids in the monitoring of loan performance and the effectiveness of relief programs. This, in turn, supports the broader goal of providing stability and affordability in the housing market, making it an indispensable tool in the realm of mortgage servicing.
| Question | Answer |
|---|---|
| Form Name | Freddie Mac Form 461 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | you form 461, freddie form 461, fhlmc form 461, freddiemac form 461 |
