Freddie Mac Single-Family Seller/Servicer Guide 4302.4 — Borrower eligibility
Freddie Mac Single-Family Seller/Servicer Guide Section 4302.4 — Borrower eligibility.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4302.4 — Borrower eligibility — 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 Single-Family Seller/Servicer Guide 4302.4 — Borrower eligibility
Borrower eligibility requirements for Refi Possible® Mortgages Topic Borrower eligibility requirements Borrower income ■ The Borrower’s qualifying income converted to an annual basis must not exceed 100% of the Area Median Income for the location of the Mortgaged Premises ■ To determine if the Borrower’s income exceeds the income limits, the Seller must rely on the income used to qualify the Borrower ■ For Loan Product Advisor Mortgages, Loan Product Advisor will use the income used to qualify the Borrower that was submitted to determine the income eligibility of the Mortgage ■ For non-Loan Product Advisor Mortgages, the Seller must use the Home Possible® Income & Property Eligibility tool. The Seller may not use other published Area Median Income versions (such as Area Median Incomes posted on https://www.huduser.gov/portal/home.html) to determine Mortgage or product eligibility. Change in Borrowers ■ The Borrower(s) obligated on the Note for the Refi Possible Mortgage must be the same as the Borrower(s) obligated on the Note for the Mortgage being refinanced, except that a Borrower obligated on the Note for the Mortgage being refinanced may be omitted from the Note for the Refi Possible Mortgage provided that: ❑ The Mortgage file contains evidence that the remaining Borrower has been making the Mortgage payments, including the payments for any secondary financing, for the most recent 12-month period from their own funds; or Borrower eligibility requirements for Refi Possible® Mortgages Topic Borrower eligibility requirements ❑ In the case of death, the Seller obtains and retains in the Mortgage file documentation of the Borrower’s death ■ In all cases, at least one Borrower from the Mortgage being refinanced must be retained
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 4302.4 — Borrower eligibility
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.
Source of record: https://claudeforcompliance.com/regs/fhlmc-4302-4/
· register fhlmc-4302-4 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.