Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
Freddie Mac Guide §3602.3 (Repurchase pricing and documentation). Gap-fill (verbatim, ID-diff).
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25) — 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 3602.3
(11/19/25) This section contains requirements related to: ■ Repurchase pricing ■ Documenting and reporting repurchases
Freddie Mac Guide 3602.3
602-10 (a) Repurchase pricing The repurchase price is determined based on the Mortgage status as follows: (i) Active Mortgages An active Mortgage is a current or delinquent Mortgage for which the Servicer reports and Freddie Mac drafts payments and payoffs. The repurchase price is calculated as follows: ■ The UPB of the Mortgage, including any Negative Amortization on an ARM Plus ■ Accrued interest at the applicable net yield rate from the first day of the month of repurchase through the day before repurchase (ii) Inactive Mortgages An active Mortgage becomes an inactive Mortgage in the Accounting Cycle it becomes 120 days delinquent (four payments past due). The repurchase price is calculated as follows: ■ The UPB of the Mortgage, including any Negative Amortization on an ARM Plus ■ Accrued interest at the applicable net yield rate from the DDLPI through the day before repurchase Plus ■ Any expenses reimbursed by Freddie Mac to the Servicer Plus ■ Any other costs incurred by Freddie Mac and the Servicer in connection with foreclosure or the liquidation of the Mortgage in default Minus ■ Any mortgage insurance proceeds, sale proceeds, other proceeds, rental income or refunds remitted to Freddie Mac by or on behalf of the Servicer
Freddie Mac Guide 3602.3
602-11 (iii)REO and all other post-foreclosure situations The repurchase price is calculated as follows: ■ The UPB of the Mortgage as of the acquisition date or the date of acceptance of a deed-in-lieu of foreclosure, including any Negative Amortization on an ARM Plus ■ Accrued interest at the: • Accounting Net Yield (ANY) from the DDLPI through the earlier of the day before the repurchase due date or the 150th day from the DDLPI • Average of the prime rate for the month preceding the Repurchase Demand date minus one half of 1% from the 151st day from the DDLPI through the earlier of the day before the repurchase due date or 60 days after the settlement date of the sale of the REO (if applicable) Plus ■ Any expenses reimbursed by Freddie Mac to the Servicer Plus ■ All costs associated with the acquisition, maintenance, rehabilitation and disposition of the property acquired, including any incentive or below market financing provided by Freddie Mac and the Servicer of the Mortgage in connection with the REO property Plus ■ An allocation for general and administrative expenses Plus ■ Any other cost incurred by Freddie Mac and the Servicer in connection with the REO property, foreclosure or the liquidation of Mortgages in default Plus ■ The cost of advancing payment for expenses net of any proceeds received at the: • ANY from the DDLPI through the earlier of the day before the repurchase due date on the 150th day from the DDLPI
Freddie Mac Guide 3602.3
602-12 • The average of the prime rate for the month preceding the Repurchase Demand date minus one half of 1% from the 151st day from the DDLPI through the earlier of the day before the repurchase due date or 60 days after the settlement date of the sale of the REO Minus ■ Any mortgage insurance proceeds, sale proceeds, other proceeds, rental income or refunds remitted to Freddie Mac by or on behalf of the Servicer The Seller/Servicer agrees that, in the event of repurchase, it will pay all documentary stamp taxes, recording fees, transfer taxes and all other expenses payable in connection with the transfer of Mortgages. At Freddie Mac’s discretion, the repurchase price may also include any premium paid for Mortgages Freddie Mac purchased or, with respect to Mortgage delivery through the Guarantor program, the premium (expressed as a percentage) that was or would have been applicable to the Pool comprising the particular Mortgages, based on market conditions existing on the Settlement Date as determined by Freddie Mac, multiplied by the outstanding UPB of the particular Mortgage on the repurchase date. In addition, the repurchase price will include an amount equal to any buyup proceeds paid by Freddie Mac to the Seller in connection with the sale of the Mortgage to Freddie Mac and an amount equal to any loss, damage or expense, including court costs and reasonable attorney fees, as incurred by Freddie Mac in connection with its purchase, ownership and resale to the Seller of the Mortgage. The Seller/Servicer must remit the repurchase funds or comply with the repurchase appeal requirements in Section 3602.4(b) or 3602.4(c), as applicable, within 60 days of the date of Freddie Mac’s repurchase letter. If the Seller/Servicer does not submit a written appeal to Freddie Mac within 60 days or within such other time frame as specified by Freddie Mac, it will be assumed that the Seller/Servicer does not contest the repurchase and that the repurchase funds are due to Freddie Mac. Thereupon the Appeal Process will no longer be available to the Seller/Servicer for that particular Repurchase Demand. If the Seller/Servicer fails to report an involuntary repurchase in accordance with Section 8303.3(f) and the late reported payoff-repurchase results in a delayed Payoff Date or if the Seller/Servicer fails to have sufficient funds available for Freddie Mac to draft on the Payoff Draft Date, then the Seller/Servicer may be charged a draft delay fee each month on the total amount owed. The rate of interest on the late remittance amount will equal the highest quoted prime rate printed on the last Business Day following the month in which the repurchase funds are due plus 3% (300 basis points). The prime rate is published in The Wall Street Journal’s “Money Rates” column or comparable section. If the prime rate is not published, Freddie Mac will determine a comparable rate. The amount of any repurchase late fee will appear on the Seller account
Freddie Mac Guide 3602.3
602-13 activity statement described in Section 6303.1(a) and will be drafted from the Seller’s Automated Clearing House (ACH) account in accordance with Section 6303.2(a). See Section 8303.5(h) for details on how Freddie Mac calculates the draft delay fee and the fee structure. (b) Documenting and reporting repurchases All repurchases must be documented in the applicable Mortgage files and are subject to Freddie Mac review. In addition, for any repurchase made to allow a Transfer of Ownership under Section 3602.2(b), the Seller/Servicer must also retain the documentation required in Section 8406.3(a) after the transfer has occurred. Repurchases, other than those for which the Seller/Servicer has received written demand by Freddie Mac, must have Freddie Mac’s prior written approval. (See Section 3602.2(c) for information on submitting a request to repurchase a Mortgage.) A repurchase is not completed until the reporting and remitting requirements of Section 8303.3(f) have been satisfied.