Freddie Mac Single-Family Seller/Servicer Guide §2101.5 — Mortgage bankers financial reporting (04/30/24)
Freddie Mac Guide §2101.5 (Mortgage bankers financial reporting). Gap-fill (verbatim, ID-diff).
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide §2101.5 — Mortgage bankers financial reporting (04/30/24) — 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 2101.5
(04/30/24) Each Seller/Servicer that is a mortgage banker must submit a complete and accurate Form 1055, Mortgage Bankers’ Financial Reporting Form, on a quarterly basis. For reporting purposes, mortgage bankers are firms other than federally insured depositories originating mortgages for sale in the secondary market and/or servicing mortgages. This includes Sellers/Servicers that are mortgage banker subsidiaries of federally insured depositories. Form 1055 must be completed and submitted as follows: ■ For reporting periods ending March 31, June 30 or September 30, Form 1055 must be filed no later than 30 days after the end of the reporting period. For reporting periods ending on December 31, the Form 1055 must be filed no later than 60 days after the end of the reporting period. Mortgage bankers with fiscal years that do not end on December 31 should refer to the instructions for Form 1055 at http://www.mbfrf.org. ■ Form 1055 may be printed from the website and must be completed and submitted online at http://www.mbfrf.org
Freddie Mac Guide 2101.5
101-10 ■ Seller/Servicer’s chief executive officer (CEO), chief financial officer (CFO) or an equivalent officer must certify that Form 1055 was prepared in accordance with generally accepted accounting principles (GAAP) and that the information submitted is true and accurate Additionally, for each Seller/Servicer that completes Form 1055 quarterly reporting and is either (1) a Large Non-Depository Institution, as defined in Section 2101.2 or (2) separately identified by Freddie Mac through a written communication to that Seller/Servicer, such Seller/Servicer must submit a complete and accurate Form 1055A, Monthly Mortgage Bankers’ Financial Reporting Short Form, as follows: ■ Form 1055A must be filed no later than the last day of the month following the end of the reporting month for the first and second months of each fiscal quarter (e.g., Form 1055A will be effective for the April 2024 filing, due May 31, 2024). Seller/Servicers are not required to provide a monthly report for each third month of the fiscal quarter, as the data will be captured in the quarterly Form 1055 report. ■ Form 1055A may be printed from the website and must be completed and submitted online at http://www.mbfrf.org ■ Seller/Servicer’s CEO, CFO or an equivalent officer must certify that Form 1055A was prepared in accordance with GAAP and that the information submitted is true and accurate Failure to submit Form 1055 or 1055A as described herein may result in suspension or disqualification of the Seller/Servicer.