Maybe a year ago when I had to touch a freddie mac deal, I learned of a couple of things: Freddie Mac is for homeowners - the guy moves out, rents the place, nope, done. Freddie Mac will not entertain a short sale if it is not a homeowner (anymore) no matter what the loss. Now, doesn't that sound like the gov't that we know and love? No matter how much the taxpayer will lose, they will do the "right thing" and screw over everyone. So, that is principle 1 for freddie.
2. even if you can absolutely prove that you never got a notice requesting documentation (and I know of a case where the proof was irrefutable), if you miss a deadline to give the docs, Freddie Mac will never ever ever entertain doing a short sale for that property/owner again. Done.
I do get freddie mac from time to time in equator - I really don't see enough to have anything to say about them - I get fannie mae far more and what happens there is, therefore, easier to track - and it is all over the map, of course.
I would love to have the stats on every property that BofA takes back instead of allowing to short sale. I've had too many that were excellent deals for the investor and just blown out of the water. I am sure that the graphs look real ugly from the tax payer standpoint (Oh, and take these graphs and add in - because I'm sure the gov't wouldn't - all the money lost while the property sat before REO sale.. taxes, insurance, whoever handles the account, etc.). However, in Obama's quest to clean up the financial world, he explicitly exempted Fannie and Freddie. (Ergo, what the heck is the point???) Hmmm..
A common problem that I run into when a realtor, seller, buyer call me is that they expect BofA (freddie, fannie?) to be logical, rational and human. Nope. Don't care. It is their little world and real world facts are generally irrelevant. They are all nicely paid to do what they do....
Countrywide and Bank of America both serviced loans owned by Freddie. The investor calls the shots. If they figure the cost of a short sale is more than that of a foreclosure, they will foreclose.