Freddie Mac Single-Family Seller/Servicer Guide 4407.3 — Age of documentation and Loan Product

Freddie Mac Single-Family Seller/Servicer Guide 4407.3 — Age of documentation and Loan Product

Advisor® submission requirements in Eligible Disaster Areas (02/04/26) This section contains: ■ Collateral valuation in an Eligible Disaster Area ■ Special age of credit documentation requirements ■ Special delivery requirements (a) Collateral valuation in an Eligible Disaster Area The following flexibilities apply to Mortgages secured by properties in Eligible Disaster Areas and will continue to apply for six months after the disaster declaration date announced by the Federal Emergency Management Agency (FEMA): ■ For a Mortgage secured by property in an Eligible Disaster Area, although Section 5604.3(a)(i) provides otherwise, the effective date of the appraisal report must not be more than 180 days before the: ❑ Note Date ❑ Effective Date of Permanent Financing, for Construction to Permanent Mortgages or Renovation Mortgages ❑ Modification date, for Seller-Owned Modified Mortgages ❑ Conversion Date, for Seller-Owned Converted Mortgages ❑Assumption agreement date, if applicable ■ For a Mortgage secured by property in an Eligible Disaster Area, although Section 5602.3(f) provides otherwise, the Feedback Certificate message that offers the Seller automated collateral evaluation (ACE) is valid for 180 days, if the Seller does not make any loan data changes that invalidate the ACE offer. If the ACE offer on the Feedback Certificate is more than 180 days old as of the Note Date, the Seller must resubmit the Mortgage to Loan Product Advisor® to determine whether the Mortgage is still eligible for ACE. See Section 5602.3 for maintaining ACE eligibility. ■ For a Mortgage secured by property in an Eligible Disaster Area, although Section 5602.4(f) provides otherwise, the Feedback Certificate message that offers the Seller ACE+ PDR is valid for 180 days, if the Seller does not make any loan data changes that invalidate the ACE+ PDR offer. If the ACE+ PDR offer on the Feedback Certificate is more than 180 days old as of the Note Date, the Seller must resubmit the Mortgage to Loan Product Advisor to determine whether the Mortgage is still eligible for ACE+ PDR. See Section 5602.4 for maintaining ACE+ PDR eligibility. ■ For a Freddie Mac Enhanced Relief Refinance® Mortgage secured by property in an Eligible Disaster Area, if an HVE® value estimate is systematically suspended for the Mortgaged Premises on resubmission to Loan Product Advisor, the Seller may use the HVE value from the original submission (b) Special age of credit documentation requirements The following flexibilities apply to Mortgages secured by properties in Eligible Disaster Areas and will continue to apply for six months after the disaster declaration date announced by FEMA. For a Mortgage secured by property in an Eligible Disaster Area, although Sections 5102.4(a) and 5203.1(d) provide otherwise: ■ Any required credit and capacity underwriting documentation (including, but not limited to, credit reports, verifications of income, employment and sources of funds) must be dated no more than 180 days before the: ❑ Note Date ❑ Effective Date of Permanent Financing, for Construction to Permanent Mortgages and Renovation Mortgages ❑ Modification date, for Seller-Owned Modified Mortgages ❑ Conversion Date, for Seller-Owned Converted Mortgages ❑ Assumption agreement date, if applicable ■ For Loan Product Advisor Mortgages secured by property in an Eligible Disaster Area, although Section 5101.1(c) provides otherwise, the Mortgage must be submitted to Loan Product Advisor no more than 180 days before, and no later than, the Note Date or, for Construction to Permanent Mortgages and Renovation Mortgages, the Effective Date of Permanent Financing. Note: Loan Product Advisor will automatically pull a new credit report for submissions or resubmissions more than 120 days after the date of the credit report used in the previous Loan Product Advisor assessment. ■ The requirements for the 10-day pre-closing verification of employment in Section 5302.2 and the verification of the current existence of the self-employed Borrower’s business in Section 5304.1(m) continue to apply (c) Special delivery requirements The Seller must deliver ULDD Data Point Investor Feature Identifier valid value “H37” when delivering a Mortgage using the flexibilities in this Section 4407.3. See Section 6302.44 for special delivery requirements.

Source: Freddie Mac Single-Family Seller/Servicer Guide 4407.3 — Age of documentation and Loan Product · source URL · snapshot 4c94f67729042dd6