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What happens if the bank doesn’t respond within the 10-day timeline set forth by HAFA?

April 26, 2017Bank doesn’t Forth hafa happens respond timeline

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What happens if the bank doesn’t respond within the 10-day timeline set forth by HAFA?

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Hopefully, this situation should never arise. Freddie Mac is participating in HAFA as the Compliance Agent.10 This means that Freddie Mac will be monitoring lenders in every step of the HAFA process through a detailed reporting procedure that lenders must follow.11 For more information, refer to Supplemental Directive 09-09 Revised, page 14: Reporting Requirements.