Freddie Mac Updates to State Foreclosure Time Lines

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Freddie Mac Updates to State Foreclosure Time Lines

Freddie Mac Updates to State Foreclosure Time Lines

Via Freddie Mac-

As part of our periodic review of State foreclosure time lines, we’ve increased State foreclosure time lines for all foreclosure sales completed on or after August 1, 2015, in 34 of the 55 jurisdictions. You’ll see these changes reflected in your September Compensatory Fee Analysis report. Please review the updated time lines below.

We’ve also extended the temporary suspension of State foreclosure time line compensatory fee assessments in the District of Columbia, Massachusetts, New York (including New York City), and New Jersey from June 30, 2015, to December 31, 2015. The temporary suspension was originally announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2014-19 [pdf].

NOTE: The changes discussed in this article will be formally announced in our October 2015 Guide Bulletin, including updates to Guide Exhibit 83, Freddie Mac State Foreclosure Time Lines.

Updated Freddie Mac State Foreclosure Time Lines

The following table shows our prior and updated foreclosure time lines (in calendar days):

State

Foreclosure Time Lines
(effective 11/1/14)

Foreclosure Time Lines
(effective 8/1/15)

Alabama

360

360

Alaska

450

480

Arizona

330

360

Arkansas

450

510

California

510

540

Colorado

420

540

Connecticut

750

810

Delaware

780

960

District of Columbia

300

300

Florida

810

930

Georgia

330

360

Guam

500

500

Hawaii

840

1,080

Idaho

540

570

Illinois

630

690

Indiana

570

570

Iowa

630

630

Kansas

420

480

Kentucky

540

600

Louisiana

510

540

Maine

690

990

Maryland

660

720

Massachusetts

440

440

Michigan

300

330

Minnesota

390

390

Mississippi

360

360

Missouri

330

330

Montana

450

450

Nebraska

420

420

Nevada

690

900

New Hampshire

420

510

New Jersey

750

750

New Mexico

720

930

New York

820

820

New York City

990

990

North Carolina

450

450

North Dakota

630

630

Ohio

570

570

Oklahoma

570

600

Oregon

600

1,080

Pennsylvania

750

810

Puerto Rico

720

810

Rhode Island

660

840

South Carolina

600

600

South Dakota

570

600

Tennessee

300

360

Texas

390

420

Utah

540

540

Vermont

810

900

Virgin Islands

510

510

Virginia

390

390

Washington

660

720

West Virginia

300

390

Wisconsin

510

540

Wyoming

330

360

SOURCE: FREDDIE MAC

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