Approved For Settlement Status
Short sale settlement requests submitted to Freddie Mac are automatically decisioned as either APPROVED FOR SETTLEMENT or Ineligible for Settlement.
A request is in an APPROVED FOR SETTLEMENT status when the information provided meets the eligibility criteria for approval. Requests can go directly to this status from Approved, or from Ineligible for Settlement where Freddie Mac approves the settlement exception review request.
Once a request is approved for settlement, a settlement job runs overnight to update the status to Closed (settled).
Note: Even though the status is APPROVED FOR SETTLEMENT, continue to monitor related Manager Series reports in the Servicer Performance Profile until settlement occurs.
