Freddie Mac Single-Family Seller/Servicer Guide §1201.2 — Overview of Freddie Mac’s purchase programs (12/17/25)
Freddie Mac Guide §1201.2 (Overview of Freddie Mac’s purchase programs). Gap-fill (verbatim, ID-diff).
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide §1201.2 — Overview of Freddie Mac’s purchase programs (12/17/25) — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Freddie Mac Guide 1201.2
(12/17/25) Freddie Mac purchase programs provide for the purchase of conventional Home Mortgages on a whole loan basis. Freddie Mac does not set a minimum loan amount for purchases and encourages the Seller to make loans of any amount. Mortgages under all purchase programs are purchased by Freddie Mac on a Required Net Yield basis to Freddie Mac. Freddie Mac compensates Seller/Servicers for Servicing Mortgages in an amount equal to the amount of interest payments received on the Mortgages that is over and above the Required Net Yield and authorizes Seller/Servicers to retain such compensation out of such interest payments.
Freddie Mac Guide 1201.2
201-2 Under no circumstance does a Seller/Servicer retain any legal ownership in any portion of the interest due or received under a Mortgage that is owned by Freddie Mac. When a Mortgage is purchased, the Seller must select a Minimum Servicing Spread in an amount that provides adequate Servicing compensation to the Seller/Servicer.
Freddie Mac Guide 1201.2
Characterization and nature of Mortgage purchase transactions (12/17/25) The Seller and Freddie Mac agree that each and every Mortgage purchase and sale transaction entered into under the Purchase Documents (including, without limitation, any purchase and sale under the Cash, Guarantor or MultiLender Swap programs)—whether sold with or without recourse—is expressly intended by the Seller and Freddie Mac: ■ To be construed as the Seller’s sale, transfer, conveyance and delivery of all such Mortgages to Freddie Mac ■ To be construed as Freddie Mac’s purchase and receipt of such Mortgages, and ■ Not to be construed as the Seller’s pledge to secure a debt or any other obligation The Seller and Freddie Mac intend for the sale, transfer, conveyance and delivery of all Mortgages to Freddie Mac by the Seller to be true, absolute and unconditional sales conveying all of the Seller’s right, title and interest in and to the Mortgages and all proceeds from the Mortgages. The Seller represents and warrants to, and covenants and agrees with Freddie Mac, that it does not retain any rights or legal ownership interests in the Mortgages it sells to Freddie Mac or in any payment due under or proceeds from such Mortgages, including, but not limited to: ■ Any portion of the interest due or received under such Mortgages; or ■ The Servicing Contract Rights Freddie Mac acknowledges that a Seller/Servicer may recognize Servicing Contract Rights as assets on its balance sheet in the form of “mortgage servicing rights” in accordance with generally accepted accounting principles (GAAP); however, such recognition as under GAAP does not confer any legal ownership interest in any Servicing Contract Rights or the Mortgage. If despite the intent of the Seller and Freddie Mac, the Mortgages (or any of them) are determined to be property of the Seller (i.e., the sale was not a true sale), Freddie Mac and the Seller agree that:
Freddie Mac Guide 1201.2
201-3 ■ The Purchase Documents created a security agreement within the meaning of the Uniform Commercial Code (UCC) in effect in the applicable State, conveying to Freddie Mac a security interest in all of the Seller’s right, title and interest in and to the Mortgage and all proceeds from the Mortgage ■ Freddie Mac is the secured party under such security agreement ■ The possession by Freddie Mac or its designee (including, without limitation, any applicable Document Custodian) of the Notes (and any related documents) shall be deemed to be possession by the secured party for purposes of perfecting the security interest pursuant to the UCC ■ The Seller shall assist Freddie Mac with any reasonable actions necessary to ensure that Freddie Mac receives a perfected security interest of first priority under applicable law; and ■ Freddie Mac will have all of the rights and remedies of a secured party and creditor under the UCC and may execute and file UCC financing statements as reasonably necessary
Freddie Mac Guide 1201.2
Limitation on Mortgage purchases and commitments (12/17/25) This section contains requirements related to: ■ Limitation on number and amount of Mortgage purchases and commitments ■ Review of aggregate purchase amount (a) Limitation on number and amount of Mortgage purchases and commitments Freddie Mac reserves the right to, at its sole discretion: ■ Limit the number and/or aggregate dollar amount of Mortgage commitments it will accept from any Seller. Maximums are subject to change by Freddie Mac at any time without prior notice or publication. ■ Establish the Maximum Annual Mortgage Purchase Amount that Freddie Mac will purchase from a Seller in any calendar year. Freddie Mac will notify a Seller in writing if Freddie Mac has established a Maximum Annual Mortgage Purchase Amount for that Seller for that calendar year and will inform the Seller of the maximum amount for that year. Note: The Maximum Annual Mortgage Purchase Amount will not be adjusted by a purchase tolerance, and the purchase tolerances in Section 6401.1 will not apply to the Maximum Annual Mortgage Purchase Amount.
Freddie Mac Guide 1201.2
201-4 ■ Limit the number and/or aggregate dollar amount of Home Mortgages it will purchase in any subdivision, tract, Condominium Project, Planned Unit Development (PUD) or ground lease community ■ Establish maximum Mortgage purchase amounts for time frames other than one year ■ Establish maximum purchase amounts for specific types of Mortgages based on Mortgage characteristics ■ Establish representative mix requirements such that Mortgages sold to Freddie Mac must have similar loan characteristics when compared to Mortgages sold by the Seller to other investors ■ Establish minimum Mortgage purchase amounts (b) Review of aggregate purchase amount If Freddie Mac has established a Maximum Annual Mortgage Purchase Amount with respect to the Seller, Freddie Mac will, after a commitment has been made, review the aggregate amount of Mortgages purchased from the Seller to date in the current calendar year. Freddie Mac will notify the Seller if the contract commitment amount stated in the Purchase Contract, when added to the aggregate amount of Mortgage purchases to date from the Seller for that calendar year, would cause the Seller to exceed the Maximum Annual Mortgage Purchase Amount established for the Seller. In such cases, Freddie Mac, in its sole and absolute discretion, may either: ■ Purchase Mortgages from the Seller in an amount that exceeds the Seller’s Maximum Annual Mortgage Purchase Amount; or ■ Rescind, in whole or in part, any Purchase Contract (including any Purchase Contract entered into by any other Freddie Mac authorized method) that will result in the Seller’s exceeding its Maximum Annual Mortgage Purchase Amount The Seller agrees that any such rescission shall be made without the payment by Freddie Mac of any Seller claims.
Freddie Mac Guide 1201.2
Servicing in accordance with Purchase Documents (12/17/25) Mortgages purchased by Freddie Mac must be serviced by a Servicer in accordance with applicable law and the applicable Purchase Documents. For performing Servicing duties, Freddie Mac will compensate the Servicer in accordance with Chapter 8103. Freddie Mac reserves the right to refuse to purchase any Mortgage that, in its sole discretion, Freddie Mac determines cannot be adequately serviced by the Seller (if also a Servicer), its assignee or its duly authorized Servicing Agent.