Freddie Mac Issues Statement on Foreclosure Processing Situation

The following statement has been issued by Bruce Witherell, chief operating officer for Freddie Mac: "Freddie Mac is deeply concerned about recent reports that there may be affidavits that were improperly executed in connection with foreclosures. The alleged practices in these reports are clearly not in compliance with Freddie Mac's guidelines and directives to its servicers. "We are providing instructions to our servicers later today that are intended to ensure that their foreclosure processes are in compliance with state law and Freddie Mac's servicing requirements. "It's essential that the industry work together to protect borrowers' rights and ensure the integrity of the foreclosure process." For more information, visit www.freddiemac.com.