Approved for Settlement
Overview
Settlement requests that Freddie Mac has approved.
At the direction of Guide Section 8406.7, Servicers are required to document transferee information in the Freddie Mac Post Fund Data Correction tool (See Exhibit 88, Servicing tools) following the settlement of a simultaneous assumption and Flex modification workout.
Servicers can submit settlement requests and receive a decision (e.g., Approve for Settlement) on the weekend; however, settlement will occur on the following business day.
Note: Settlement does not occur on the first business day of the month and is processed beginning the second business day.