Fannie, Freddie Update Mortgage Servicing Requirements. Fannie Mae and Freddie Mac have released updated mortgage servicing requirements in response to the Consumer Financial Protection Bureau’s servicing rule. All of the announced changes are effective for servicing activities completed on or after Jan. 10, 2014. The updated servicing requirements relate to early intervention and communication with delinquent borrowers, alternatives to foreclosure and right of appeals, foreclosure referral and foreclosure suspension, and error resolution.