Team Thayer Property Servicing

Freddie Mac  has announced that as part of the periodic review, state foreclosure timelines have been extended in 34 of 55 jurisdictions including Oregon  for all foreclosure sales completed on or after Aug 1, 2015. The temporary suspension of state foreclosure timeline compensatory fee assessments in the District of Columbia, New York (including New York City), and New Jersey has been extended from June 30, 2015, to December 31, 2015, according to Freddie Mac. The Enterprise originally announced the temporary suspension in the  Single-Family Seller/Servicer Guide Bulletin 2014-19.  The temporary suspension and the extended foreclosure timelines recently announced will be discussed in Freddie Mac's October 2015 Guide Bulletin. Freddie Mac extended state foreclosure timelines as follows as part of the periodic review. The length of time is measured in calendar days, and the number of days here refers to the maximum number of allowable days between the due da...

Since a borrower's credit score influences a lender's decision on whether or not to give that borrower a single family mortgage loan, the importance of having a good credit score when buying a home cannot be underestimated,  according to Freddie Mac's  blog on Monday. According to  Freddie Mac , the best way to earn a high credit score is to pay debts on time that include credit cards, car payments, or student loan payments. Since a  recent survey by TransUnion found that three out four consumers know their credit score is important but are unaware of the critical role the score plays when they are seeking a mortgage loan, on Monday Freddie Mac published a list of helpful hints (as reported by financial-education company Financial Finesse) to consider for consumers who are trying to build a solid credit score or consumers who may not know of its importance. A credit score between 661 and 780 is generally considered good, with 700 being the "sweet spo...