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Borrowers To Get Hurricane Sandy Insurance Proceeds Faster

Freddie Mac has taken steps to cut the time it's taking servicers to get insurance proceeds to borrowers to start repairs on homes damaged by Hurricane Sandy and secured by Freddie Mac-owned or -guaranteed mortgages. 

Tracy Mooney, senior vice president of Single-Family Servicing and Real Estate Owned at Freddie Mac said; "The goal is to simplify and clarify our policies so servicers can put insurance proceeds to work helping families and repairing homes without delay. Today's Guide Bulletin re-emphasizes Freddie Mac's commitment to do everything it can to get insurance money into the hands of eligible borrowers recovering from Hurricane Sandy as quickly as possible."

Freddie Mac's general disaster relief policies are posted online.