On April 28, the FHFA directed Fannie Mae and Freddie Mac to align their guidelines for servicing delinquent mortgages that they own or guarantee in four key areas: (i) borrower contact; (ii) delinquency management practices; (iii) loan modifications and foreclosure alternatives; and (iv) foreclosure timelines. The updated guidelines will also establish monetary incentives and penalties for servicer performance. FHFA Release.