Freddie Mac Single-Family Seller/Servicer Guide 5605.8 — Requirements for properties subject to completion or inspection

Refer to Bulletin 2025-7, which announced the policy requirements for Uniform Appraisal Dataset (UAD) 3.6. Sellers may submit to the Uniform Collateral Data Portal® appraisal reports that use UAD 3.6 before the mandatory effective November 2, 2026 version of Section 5605.9. This section contains requirements related to: ■ Verifying completion for new or proposed construction ■ Verifying completion for an existing property ■ Appraisal reports or PDRs requiring an inspection

(a) Verifying completion for new or proposed construction For appraisal reports of new or proposed construction (i.e., the construction has not started and the description of construction to be completed is based on plans and specifications and/or similar documentation) that are subject to completion, Freddie Mac will accept one of the following to verify completion of the subject property: ■ Form 442, Appraisal Update and/or Completion Report, prepared by an appraiser documenting the property has been completed in accordance with the plans and specifications ❑ Freddie Mac will accept a completion report prepared by an unlicensed appraiser or appraiser trainee (or similar classification) if a supervisory appraiser signs the completion report ❑ The completion report may be based on an on-site visual inspection or by using technology to perform a virtual inspection of the subject property to evidence completion ■ Form 400, Warranty of Completion of Construction or Repairs/Alterations, or other substantially similar form, signed by the Borrower and the builder confirming the subject property has been completed in accordance with the plans and specifications ❑ By delivering the signed completion form to Freddie Mac, the Seller represents and warrants the subject property has been completed in accordance with the plans and specifications and there were no material or significant changes to the plans and specifications after completion of the appraisal report ❑ If the Seller is unable to obtain Form 400 signed by both the Borrower and builder, then Form 442 completed by the appraiser is required The following table describes the completion verification requirements for appraisal reports subject to completion per plans and specifications: Verifying completion for appraisal reports subject to completion per plans and specifications Form Requirements for verifying completion Form 442 The completion report must: ■ Include photographs that clearly identify completion of construction. If the property was incomplete at the time of inspection, additional photographs may be required. (See Section 5604.2(f) for photograph requirements.) ■ Be dated before the Settlement Date, unless the requirements for incomplete improvements (Section 5601.3) or GreenCHOICE Mortgages® (Section 4606.3(a)) have been met ■ Be signed by the appraiser ■ Be retained in the Mortgage file Form 400 The completion form must: ■ Include photographs that clearly identify completion of construction. If the property was incomplete at the time of inspection, additional photographs may be required. (See Section 5604.2(f) for photograph requirements.) ■ Be dated before the Settlement Date, unless the requirements for incomplete improvements (Section 5601.3) have been met ■ Be signed by the Borrower and the builder ■ Be retained in the Mortgage file ■ Not be used for GreenCHOICE Mortgages

(b) Verifying completion for an existing property (i) Appraisal reports subject to repairs or alterations For appraisal reports of existing properties that are subject to repairs or alterations, Freddie Mac will accept one of the following to verify completion of the subject property: ■ Form 442, prepared by an appraiser documenting the repairs or alterations identified in the appraisal report have been completed ❑ Freddie Mac will accept a completion report prepared by an unlicensed appraiser or appraiser trainee (or similar classification) if a supervisory appraiser signs the completion report ❑ The appraiser may complete Form 442 by performing an on-site visual inspection or by using technology to perform a virtual inspection of the subject property to evidence completion. Virtual inspections using technology must not be used to verify completion for CHOICERenovation® Mortgages. ■ Form 400 or other substantially similar form, signed by the Borrower confirming the required repairs or alterations identified in the appraisal report have been completed. By delivering the signed completion form to Freddie Mac, the Seller represents and warrants the repairs or alterations have been completed. ■ PDR Completion Report, prepared by a property data collector, attesting the repairs or alterations identified in the appraisal report have been completed ❑ The property data collector must complete the PDR Completion Report by performing an on-site visual observation of the subject property to verify completion ❑ The PDR Completion Report may be used only with a hybrid appraisal. The following table describes the completion verification requirements for appraisal reports subject to repairs or alterations: Verification of completion for an existing property – appraisal reports Form Requirements for verifying completion Form 442 The completion report must: ■ Include photographs that clearly identify the completion of repairs or alterations ■ Be dated before the Settlement Date unless requirements for GreenCHOICE Mortgages or CHOICERenovation Mortgages, as described in Sections 4606.3(a) and 4607.8, respectively, have been met ■ Be signed/attested by the appraiser ■ Be retained in the Mortgage file Form 400 or other substantially similar form The completion form must: ■ Include photographs that clearly identify the completion of repairs or alterations ■ Be dated before the Settlement Date ■ Include either: ❑ A signed report from the professional that completed the work, or ❑ Paid invoice(s) for the repairs or alterations ■ Be signed/attested by the Borrower(s) ■ Be retained in the Mortgage file ■ Not be used for GreenCHOICE Mortgages or CHOICERenovation Mortgages PDR Completion Report (May be used only with a hybrid appraisal report) The completion report must: ■ Contain the data points and certifications in the PDR Completion Report data set (Exhibit 39, Completion Report Data Set) ■ Include photographs that clearly identify the completion of repairs or alterations ■ Be dated before the Settlement Date ■ Be signed/attested by the property data collector ■ Be retained in the Mortgage file (ii) ACE+ PDR when the Seller’s review of the PDR determines required repairs or alterations For ACE+ PDR when the Seller’s review of the PDR determines there are required repairs or alterations, Freddie Mac will accept one of the following to verify completion: ■ PDR Completion Report, prepared by a property data collector, attesting that the subject property has been completed in compliance with the required repairs or alterations. The property data collector must complete the PDR Completion Report by performing an on-site visual observation of the subject property to verify completion. ■ Form 400, or other substantially similar form, signed by the Borrower confirming completion of repairs or alterations identified in the PDR. By delivering the signed completion form to Freddie Mac, the Seller represents and warrants the repairs or alterations have been completed. The following table describes the completion verification requirements for PDRs when the Seller’s review determines repairs or alterations: Verification of completion for PDRs when the Seller’s review determines repairs or alterations Form Requirements for verifying completion PDR Completion Report The completion report must: ■ Contain the data points and certifications in the PDR Completion Report data set (Exhibit 39) ■ Include photographs that clearly identify the completion of repairs or alterations ■ Be dated before the Settlement Date ■ Be signed/attested by the property data collector ■ Be retained in the Mortgage file Form 400 or other substantially similar form The completion form must: ■ Include photographs that clearly identify the completion of repairs or alterations ■ Be dated before the Settlement Date ■ Include either: ❑ A signed report from the professional who completed the repairs or alterations, or ❑ Paid invoice(s) for the repairs or alterations ■ Be signed/attested by the Borrower ■ Be retained in the Mortgage file ■ Not be used for GreenCHOICE Mortgages or CHOICERenovation Mortgages

(c) Appraisal reports or PDRs requiring an inspection For appraisal reports that are subject to an inspection of the property or PDRs when the Seller’s review determines an inspection is required, a licensed professional or other person trained in the particular field of concern (e.g., structural engineer, plumber, pest inspector) must perform the inspection of the property. The Seller must obtain either: ■ An inspection report stating that repairs are not required (i.e., Seller reviews to ensure property does not have deficiencies consistent with a C5 or C6 condition rating), or ■ An inspection report and invoice(s) stating that the required repairs have been completed and the issues have been corrected The following table describes the requirements for reporting inspection results for appraisal reports or PDRs requiring inspections: Reporting inspection results for appraisal reports or PDRs requiring an inspection Acceptable documentation Documentation requirements Inspection report or invoice(s), as applicable The documentation must: ■ Be prepared by the professional who performed the inspection or completed the repair ■ Provide the professional’s license number, if applicable ■ Be dated before the Settlement Date ■ Be retained in the Mortgage file