Freddie Mac Single-Family Seller/Servicer Guide 5705.7 — Exempt From Review
Freddie Mac Single-Family Seller/Servicer Guide Section 5705.7 — Exempt From Review.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 5705.7 — Exempt From Review — 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 5705.7 — Exempt From Review
This section contains requirements related to: ■ Eligible Mortgages ■ Cooperative Project eligibility ■ General Cooperative Project eligibility requirements ■ Additional requirements To be eligible under Exempt From Review, the requirements below must be met. (a) Eligible Mortgages The Mortgage must be one of the following: ■ A Freddie Mac-owned “no cash-out” refinance Cooperative Share Loan; or ■ A Refi Possible® Mortgage (b) Cooperative Project eligibility The Cooperative Project must: ■ Not be a cooperative hotel, houseboat project, timeshare project or project with segmented ownership (all as described in Section 5705.3) ■ Not be in need of Critical Repairs (see Section 5705.3(q) for details) ■ Not have an evacuation order (see Section 5705.3(r) for details); and ■ Not be the subject of an action that would cause the Cooperative Project to cease to exist and not be the subject of an insolvency proceeding (see Section 5705.3(s) for details) (c) General Cooperative Project eligibility requirements The general Cooperative Project eligibility requirements in Section 5705.2(b) must be met. (d) Additional requirements The following table describes additional requirements that must be met based on the type of Mortgage: Additional requirements by Mortgage type Mortgage type Requirements Freddie Mac-owned “no cash-out” refinance Cooperative Share Loan If the Cooperative Share Loan being refinanced is currently owned by Freddie Mac in whole or in part or securitized by Freddie Mac, then the Mortgage is exempt from project review provided the following requirements are met: ■ The maximum loan-to-value (LTV)/total LTV (TLTV)/Home Equity Line of Credit (HELOC) TLTV (HTLTV) ratio is 80% ■ If available, proof of the ULDD Data Point Related Investor Loan Identifier of the existing Cooperative Share Loan is provided in the Mortgage file ■ The delivery requirements in Section 6302.45 are met Refi Possible Mortgage If the Cooperative Share Loan being refinanced is currently owned by Freddie Mac in whole or in part or securitized by Freddie Mac and the Mortgage is being refinanced under the Refi Possible offering, then the Mortgage is exempt from project review provided that: ■ The Mortgage meets all applicable requirements for Refi Possible Mortgages in Chapter 4302 ■ The delivery requirements in Section 6302.46 are met
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 5705.7 — Exempt From Review
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-5705-7/
· register fhlmc-5705-7 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.