Freddie Mac Single-Family Seller/Servicer Guide §2101.11 — Annual reporting requirements (12/07/20)
Freddie Mac Guide §2101.11 (Annual reporting requirements). Gap-fill (verbatim, ID-diff).
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide §2101.11 — Annual reporting requirements (12/07/20) — 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 2101.11
The following must be completed with information as of the Seller/Servicer’s fiscal year-end and submitted to Freddie Mac within 90 days after the end of that fiscal year: ■ Annual Certification Report (see Section 2101.10) ■ Audited or reviewed financial statements, as required by Section 2101.4, and ■ Any other documentation requested by Freddie Mac Seller/Servicers must access and complete an Annual Certification Report using the Unified Counterparty Experience® (UCount®) system and any required audited financial statements and auditor’s reports (see Section 2101.4) must be submitted using UCount or electronically as attachment to an e-mail to [email protected]. The Seller/Servicer is responsible for truthfulness, completeness and accuracy of the information in the electronically executed and submitted Annual Certification Report (including any required or supplemental information submitted with the Annual Certification Report) to the same degree as if the Seller/Servicer’s duly authorized representative made the submission to Freddie Mac in paper and signed in ink. A Seller/Servicer that is suspended from selling Mortgages to or Servicing Mortgages for, or is not approved to sell Mortgages to or service Mortgages for Freddie Mac is not required to submit Annual Certification Report unless directed to do so by Freddie Mac. Failure of any other Seller/Servicer to submit the Annual Certification Report as set forth in this Section 2101.11 may result in suspension or disqualification of that Seller/Servicer.
Freddie Mac Guide 2101.11
Reporting of changes in Seller/Servicer’s organization or status (12/17/25) A Seller/Servicer must submit a Change and Activity Report to Freddie Mac using the Unified Counterparty Experience® (UCount®) system at least 60 calendar days before the effective date of a material change in its ownership or organization, whether it is the surviving entity or non- surviving entity (“Material Organizational Change”), including, but not limited to, a: (a) Merger (b) Consolidation (including a regulatory agency-assisted transaction)
Freddie Mac Guide 2101.11
101-26 (c) Change of Control (d) Charter change (such as a State-chartered bank becoming federally chartered) (e) Conversion (such as a thrift institution converting from mutual to stock form), or such other change of a Seller/Servicer’s identity or type of organization (f) Transfer of all or substantially all of the Seller/Servicer’s assets to another entity In addition to submitting a Change and Activity Report, as a condition to obtaining or maintaining a Seller/Servicer’s eligibility status as a Freddie Mac-approved Seller/Servicer, any Material Organizational Change (including (a) through (f) described above) requires Freddie Mac’s prior written approval or notice of non-objection before the effective date of the Material Organizational Change. Freddie Mac may require a Seller/Servicer to satisfy certain conditions in connection with Freddie Mac’s prior written approval or notice of non-objection (including, without limitation, assumption of the liabilities of the non-surviving entity and execution and delivery of an assignment and assumption agreement, posting of collateral and the execution and delivery of a collateral pledge agreement, satisfaction of FRE Claims and/or submission of any additional information or documentation related to the Material Organizational Change). In connection with any Material Organizational Change, a Seller/Servicer’s failure to (1) obtain Freddie Mac’s prior written approval or notice of non-objection before the effective date of such Material Organizational Change or (2) satisfy any condition imposed by Freddie Mac in connection with Freddie Mac’s prior written approval or notice of non-objection, constitutes a breach of the Guide and an “Unauthorized Transaction”. In the event of an Unauthorized Transaction, Freddie Mac shall have the right to assess a compensatory fee determined by Freddie Mac in its sole discretion and all other rights and remedies under the Guide. If a Material Organizational Change results in a Transfer of Servicing, whether by operation of law or otherwise, the applicable Seller/Servicers must comply with their respective obligations under the Guide and applicable Purchase Documents, including, but not limited to, Sections 1101.3, 2101.14 and Chapter 7101. If there is a Transfer of Servicing, the applicable Seller/Servicers must obtain Freddie Mac’s prior written approval in accordance with Chapter 7101 for the proposed transaction(s). If a Seller/Servicer intends to (i) transfer assets to an entity that is not a Freddie Mac-approved Seller/Servicer; (ii) merge with or into an entity that is not a Freddie Mac-approved Seller/Servicer; or (iii) consolidate with or into an entity that is not a Freddie Mac-approved Seller/Servicer, see Section 2101.13 for additional requirements. A Seller/Servicer must submit a Change and Activity Report to Freddie Mac using UCount at least fourteen (14) calendar days before any of the following events: 1. A name change, including a change relating to a fictitious or alias name 2. A change concerning:
Freddie Mac Guide 2101.11
101-27 (a) Relationships with any Affiliate (b) External auditors (c) Fiscal year-end (d) Any contract between a Seller/Servicer and a Related Third Party that will have or is reasonably likely to have a Material Adverse Effect 3. A change of its jurisdiction of its organization or State of formation 4. Any change in Seller/Servicer’s chief executive office, principal place of business or change in the location of its books and records (other than a non-material change in the location of its books and records in the normal course of its business in selling or servicing Mortgages) A Seller/Servicer must submit a Change and Activity Report to Freddie Mac using UCount within one Business Day after it: 1. Is terminated by a mortgage insurance company, secondary marketing agency or other secondary mortgage investor 2. Voluntarily files a petition under federal bankruptcy or State insolvency laws, or answers an involuntary proceeding admitting insolvency or inability to pay debts 3. Fails to obtain a vacation or stay of involuntary proceedings brought for its reorganization, dissolution or liquidation 4. Is adjudged bankrupt or insolvent 5. Has a trustee, conservator or receiver is appointed for the Seller/Servicer or its property 6. Makes an assignment for the benefit of its creditors 7. Is put on probation or has its activities restricted in any manner by any agency of the federal or of State government 8. Becomes subject to an active or threatened (overtly and in writing) class action legal proceeding or a regulatory or supervisory action, proceeding or investigation including, without limitation, any judgment, order, finding or settlement that may have a Material Adverse Effect 9. With respect to any lender or secured party of a credit, loan or funding facility, including, but not limited to, any Warehouse Lender or any Secured Party under an Acknowledgment Agreement or Consent Agreement:
Freddie Mac Guide 2101.11
101-28 (a) Notifies any lender or secured party, or is notified by any lender or secured party of a breach or default under a credit, loan or funding facility or other related financing documents, or of Seller/Servicer’s violation of any financial covenants (e.g., covenants relating to Seller/Servicer’s working capital, debt or equity or net worth) of a credit, loan or funding facility or other related financing documents (to the extent such breach, default or violation is not cured within any applicable cure period set forth in the applicable agreement); or (b) Notifies the Warehouse Lender or Secured Party, or is notified by the Warehouse Lender or Secured Party of a breach or default under a Warehouse Agreement or other relevant contract (including an Acknowledgment Agreement or Consent Agreement), or of Seller/Servicer’s violation of any financial covenant (e.g., covenants relating to Seller/Servicer’s working capital, debt or equity, servicing portfolio or net worth) of a Warehouse Agreement or other relevant contract (including an Acknowledgment Agreement or Consent Agreement); or (c) Agrees to or becomes aware of any other major event regarding the agreements referenced in the foregoing Guide Section 2101.12(9)(a), such as execution of a new agreement or cancelation, termination or substantive modification to an existing agreement or other relevant contract 10. Without derogating from the generality of Section 2101.12(8), with respect to any dispute, litigation or other adversary proceeding with a Related Third Party or other party that may have a Material Adverse Effect: (a) Receives notice of a dispute not subject to litigation or other adversary proceeding, no later than one Business Day after Seller/Servicer’s reasonable determination that such dispute may have a Material Adverse Effect (b) Initiates litigation or other adversary proceedings asserting claims by or on behalf of the Seller/Servicer that may have a Material Adverse Effect, no later than one Business Day after the initiation of such litigation or proceedings; and (c) Receives notice of litigation or other adversary proceedings asserting claims against the Seller/Servicer that may have a Material Adverse Effect, no later than one Business Day after notice to the Seller/Servicer of any such litigation or proceedings The Seller/Servicer must keep Freddie Mac apprised in writing of any major developments in any such dispute, litigation or other adversary proceedings and must provide, at Freddie Mac’s request, copies of any pleadings or other documents related to the dispute, litigation or other adversary proceedings. Freddie Mac may also require the Seller/Servicer to provide additional information concerning any event covered by this Section 2101.12(10) and reserves the right to take any action it deems necessary based on such information and change.
Freddie Mac Guide 2101.11
101-29 11. Receives notice that the Seller/Servicer is suspended, disqualified or terminated as a Fannie Mae-approved seller, lender or servicer and/or a Ginnie Mae-approved issuer A Seller/Servicer submitting a Change and Activity Report should also review its (i) Form 988SF, Certificate of Incumbency for a Bank, Savings Bank, Savings and Loan Association, Credit Union, Corporation or Limited Liability Company, or (ii) Form 989SF, Certificate of Incumbency for Limited Partnerships, as applicable, to determine if a new Certificate of Incumbency (and board of directors or other governing body resolution) should be submitted with new or modified wire transfer instructions, Automated Clearing House (ACH) instructions, or other payment instructions. Refer to Section 2201.1 for Certificate of Incumbency delivery instructions. For example, the Seller/Servicer may need to submit one or more of the following with the new Certificate of Incumbency: ■ Form 483, Wire Transfer Authorization, ■ Form 1132, Authorization for Automatic Transfer of Funds Through the Automated Clearing House (ACH) for Seller/Servicers ■ Form 1132A, Authorization for Automatic Transfer of Funds from Principal and Interest Custodial Account through the Automated Clearing House (ACH) Refer to Section 2201.2 for delivery instructions for Form 483, Section 2405.1(a) for delivery instructions for Form 1132 (for Servicers), Section 6303.2(a) for delivery instructions for Form 1132 (for Sellers) and Section 8303.1(c) for delivery instructions for Form 1132A.
Freddie Mac Guide 2101.11
Reporting of changes in Seller/Servicer’s organization or status (Future effective date 05/13/26) A Seller/Servicer must submit a Change and Activity Report to Freddie Mac with respect to any material change in its ownership or organization (“Material Organizational Change”) using the Unified Counterparty Experience® (UCount®) system at least 60 calendar days before the effective date of such Material Organizational Change. Material Organizational Changes include, but are not limited to, any of the following: (a) Merger (whether the Seller/Servicer is the surviving entity or non-surviving entity) (b) Consolidation (including a regulatory agency-assisted transaction) (c) Change of Control
Freddie Mac Guide 2101.11
101-30 (d) A conversion or change in the Seller/Servicer’s legal structure (such as a corporation becoming a limited liability company), legal jurisdiction (such as a change of State of formation) or charter (such as a State-chartered bank becoming federally chartered) (e) Transfer of all or substantially all of the Seller/Servicer’s assets to another entity In addition to submitting a Change and Activity Report, as a condition to obtaining or maintaining a Seller/Servicer’s eligibility status as a Freddie Mac-approved Seller/Servicer, any Material Organizational Change (including (a) through (e) described above) requires Freddie Mac’s prior written approval or notice of non-objection before the effective date of the Material Organizational Change. Freddie Mac may require a Seller/Servicer to satisfy certain conditions in connection with Freddie Mac’s prior written approval or notice of non-objection (including, without limitation, assumption by the surviving entity of the liabilities of the non-surviving entity, posting of collateral, satisfaction of FRE Claims, execution and delivery of agreements in connection with any of the foregoing and/or submission of any additional information or documentation related to the Material Organizational Change). Freddie Mac’s decision whether to grant approval or provide notice of non-objection, and whether to impose any conditions in connection with the foregoing, with respect to any Material Organizational Change will be in Freddie Mac’s sole and absolute discretion. In connection with any Material Organizational Change, the following shall constitute a breach of the Guide and an “Unauthorized Transaction”: (i) Seller/Servicer’s failure to timely submit a Change and Activity Report to Freddie Mac in connection therewith, or (ii) the Seller/Servicer consummates such Material Organizational Change without Freddie Mac’s prior written approval or notice of non-objection. In the event of an Unauthorized Transaction, Freddie Mac shall have the right to assess a compensatory fee determined by Freddie Mac in its sole and absolute discretion and all other rights and remedies under the Guide. If a Material Organizational Change results in a Transfer of Servicing, whether by operation of law or otherwise, the applicable Seller/Servicers must comply with their respective obligations under the Guide and applicable Purchase Documents, including, but not limited to, Sections 1101.3, 2101.14 and Chapter 7101. If there is a Transfer of Servicing, the applicable Seller/Servicers must obtain Freddie Mac’s prior written approval in accordance with Chapter 7101 for the proposed transaction(s). If a Seller/Servicer intends to (i) transfer assets to an entity that is not a Freddie Mac-approved Seller/Servicer or (ii) merge or consolidate with and into an entity that is not a Freddie Mac- approved Seller/Servicer, see Section 2101.13 for additional requirements. A Seller/Servicer must submit a Change and Activity Report to Freddie Mac using UCount no later than one Business Day after any of the following events: 1. A name change, including a change relating to a doing-business-as, fictitious or alias name 2. A change concerning:
Freddie Mac Guide 2101.11
101-31 (a) Relationships with any Affiliate (b) External auditors (c) Fiscal year-end (d) Any contract between a Seller/Servicer and a Related Third Party that will have or is reasonably likely to have a Material Adverse Effect 3. A change in Seller/Servicer’s headquarter address, registered agent address or principal place of business or a change in the location of its books and records (other than a non-material change in the location of its books and records in the normal course of its business in selling or servicing Mortgages) 4. A change in Senior Management A Seller/Servicer must submit a Change and Activity Report to Freddie Mac using UCount within one Business Day after it: 1. Is terminated by a mortgage insurance company, secondary marketing agency or other secondary mortgage investor 2. Voluntarily files a petition under federal bankruptcy or State insolvency laws, or answers an involuntary proceeding admitting insolvency or inability to pay debts 3. Fails to obtain a vacation or stay of involuntary proceedings brought for its reorganization, dissolution or liquidation 4. Is adjudged bankrupt or insolvent 5. Has a trustee, conservator or receiver appointed for the Seller/Servicer or its property 6. Makes an assignment for the benefit of its creditors 7. Is put on probation or has its activities restricted in any manner by any agency of the federal or of State government 8. Becomes subject to an active or threatened (overtly and in writing) class action legal proceeding or a regulatory or supervisory action, proceeding or investigation including, without limitation, any judgment, order, finding or settlement that may have a Material Adverse Effect 9. With respect to any lender or secured party of a credit, loan or funding facility, including, but not limited to, any Warehouse Lender or any Secured Party under an Acknowledgment Agreement or Consent Agreement:
Freddie Mac Guide 2101.11
101-32 (a) Notifies any lender or secured party, or is notified by any lender or secured party of a breach or default under a credit, loan or funding facility or other related financing documents, or of Seller/Servicer’s violation of any financial covenants (e.g., covenants relating to Seller/Servicer’s working capital, debt or equity or net worth) of a credit, loan or funding facility or other related financing documents (to the extent such breach, default or violation is not cured within any applicable cure period set forth in the applicable agreement); or (b) Notifies the Warehouse Lender or Secured Party, or is notified by the Warehouse Lender or Secured Party of a breach or default under a Warehouse Agreement or other relevant contract (including an Acknowledgment Agreement or Consent Agreement), or of Seller/Servicer’s violation of any financial covenant (e.g., covenants relating to Seller/Servicer’s working capital, debt or equity, servicing portfolio or net worth) of a Warehouse Agreement or other relevant contract (including an Acknowledgment Agreement or Consent Agreement); or (c) Agrees to or becomes aware of any other major event regarding the agreements referenced in the foregoing Guide Section 2101.12(9)(a), such as execution of a new agreement or cancelation, termination or substantive modification to an existing agreement or other relevant contract 10. Without derogating from the generality of Section 2101.12(8), with respect to any dispute, litigation or other adversary proceeding with a Related Third Party or other party that may have a Material Adverse Effect: (a) Receives notice of a dispute not subject to litigation or other adversary proceeding, no later than one Business Day after Seller/Servicer’s reasonable determination that such dispute may have a Material Adverse Effect (b) Initiates litigation or other adversary proceedings asserting claims by or on behalf of the Seller/Servicer that may have a Material Adverse Effect, no later than one Business Day after the initiation of such litigation or proceedings; and (c) Receives notice of litigation or other adversary proceedings asserting claims against the Seller/Servicer that may have a Material Adverse Effect, no later than one Business Day after notice to the Seller/Servicer of any such litigation or proceedings The Seller/Servicer must keep Freddie Mac apprised in writing of any major developments in any such dispute, litigation or other adversary proceedings and must provide, at Freddie Mac’s request, copies of any pleadings or other documents related to the dispute, litigation or other adversary proceedings. Freddie Mac may also require the Seller/Servicer to provide additional information concerning any event covered by this Section 2101.12(10) and reserves the right to take any action it deems necessary based on such information and change.