Freddie Mac Single-Family Seller/Servicer Guide 6201.1 — Guarantor and MultiLender Swap programs eligibility

Freddie Mac Single-Family Seller/Servicer Guide 6201.1 — Guarantor and MultiLender Swap programs eligibility

Effective 2025-12-17 · Freddie Mac's stamp for this section

This section contains requirements related to: ■ Definitions and context for terms used in the chapter ■ Provisions for selling eligible Mortgages to Freddie Mac ■ Securities issued under the fixed-rate Guarantor and MultiLender Swap programs ■ Securities issued under the WAC ARM Guarantor program ■ Sellers eligible to submit offers under the Guarantor and MultiLender Swap programs ■ MultiLender Swap posting information ■ Freddie Mac’s obligation to sell UMBS®, MBS or ARM PCs in exchange for Mortgages (a) Definitions and context for terms used in the chapter Unless the context requires otherwise: ■ The term “Mortgages” used in this chapter refers to fixed-rate Mortgages and ARMs ■ The phrase “Guarantor program” refers to the fixed-rate Guarantor program and the WAC ARM Guarantor program ■ The requirements of this chapter apply to the Guarantor program and the MultiLender Swap program (b) Provisions for Selling eligible Mortgages to Freddie Mac The provisions of this chapter set forth the terms for selling eligible Mortgages to Freddie Mac in exchange for UMBS, MBS or WAC ARM PCs. Mortgages may be sold in exchange for securities through one of the following purchase programs: ■ Guarantor program (i) Fixed-rate Guarantor program Conventional fixed-rate Mortgages may be sold to Freddie Mac in exchange for a UMBS or MBS representing an undivided interest in the same Mortgages. FHA and VA Mortgages may be sold to Freddie Mac in exchange for an MBS representing an undivided interest in the same Mortgages. (ii) WAC ARM Guarantor program Conventional ARMs may be sold to Freddie Mac in exchange for a WAC ARM PC representing an undivided interest in the same Mortgages. ■ MultiLender Swap program (i) Eligible conventional fixed-rate Mortgages Conventional 10-, 15-, 20- and 30-year fixed-rate Mortgages may be sold to Freddie Mac in exchange for an MBS or UMBS representing an undivided interest in the same Mortgages. (ii) Government Mortgages Fixed-rate Government Mortgages (FHA/VA, Section 184 Native American, Section 502 GRH) may be sold to Freddie Mac in exchange for an MBS representing an undivided interest in the same Mortgages. Delivery under the Freddie Mac Guarantor and MultiLender Swap programs is not mandatory, but delivery under Pricing Identifier Terms may be mandatory. See Section 1501.2(b) for further information regarding mandatory delivery requirements. For additional information on the Guarantor and MultiLender Swap programs, refer to the following chapters in the Guide: Additional references for Guarantor and MultiLender Swap programs Topic Location Fixed-rate Guarantor Chapters 6202 and 6203 WAC ARM Guarantor Chapters 6202 and 6204 MultiLender Swap Chapters 6202 and 6205 Sections 6201.1(c) and 6201.1(d) summarize the types of securities issued under the Guarantor program or MultiLender Swap program. For detailed information, see Exhibit 17S, Available Mortgage Products. For current Prefix information, contact Investor Inquiry at (800) 336-3672. (c) Securities issued under the fixed-rate Guarantor and MultiLender Swap programs The fixed-rate Guarantor program issues securities for pools of the following types of fixedrate Mortgages: Guarantor and MultiLender Swap programs Mortgage type Terms available Pooling rules Conventional fixed-rate Mortgages ■ 10-year ■ 15-year ■ 20-year ■ 30-year ■ 10- and 15-year terms may be pooled together in a 15-year security ■ 20- and 30-year terms may be pooled together in a 30-year security FHA and VA Mortgages ■ 15-year ■ 20-year ■ 30-year 20- and 30-year terms may be pooled together in a 30-year security. (d) Securities issued under the WAC ARM Guarantor program The WAC ARM Guarantor program issues WAC ARM PCs for eligible ARM products. Separate WAC ARM PCs will be issued based on the characteristics of the ARM. The following characteristics are used to form WAC ARM PCs: ■ Index ■ Lookback Period ■ Initial and Periodic Caps ■ Length of Initial Period ■ Length of subsequent adjustment periods, and ■ Whether the ARMs are subject to prepayment penalties or not See Chapter 4401 and Exhibit 17S for detailed information on the combination of ARM characteristics that are acceptable for WAC ARM PCs. (e) Sellers eligible to submit offers under the Guarantor and MultiLender Swap programs All Sellers are eligible to submit offers under the Guarantor and MultiLender Swap programs, provided that the Seller first enters into Pricing Identifier Terms with Freddie Mac. A Seller should contact its Freddie Mac Account Manager to discuss how to enter into such terms. (f) Multilender Swap posting information On the first Business Day of each month, Freddie Mac will announce at https://capitalmarkets.freddiemac.com/mbs/data/FRE_Multilender_Table.txt and through various market information vendors the following information with respect to Mortgages Freddie Mac will purchase under the MultiLender Swap program: ■ Mortgage term and final Settlement Dates ■ WA Net Interest Rate (Coupon) ■ Permissible Note Rate range ■ Prefix ■ Security Identifier (Pool Number) ■ CUSIP Number (g) Freddie Mac’s obligation to sell UMBS, MBS or ARM PCs in exchange for Mortgages The obligation of Freddie Mac to sell UMBS, MBS or ARM PCs in exchange for Mortgages is subject to the Mortgages’ eligibility for purchase, the Seller’s compliance with any Maximum Annual Mortgage Purchase Amount established for the Seller and all other requirements of the Purchase Documents.

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