Freddie Mac and Fannie Mae will have a new evaluation process for determining whether a borrower is eligible for a conventional mortgage loan modification as of July 1, 2018. The GSEs noted that the new imminent default evaluation process was designed to simplify the process for servicers and borrowers to better identify those who need assistance. This new evaluation process was developed at the direction of the Federal Housing Finance Agency and it will replace the current Imminent Default Indicator test introduced by Freddie in 2010. In order for a borrower’s monthly payment to be considered in imminent default for eligibility...