Freddie Mac Single-Family Seller/Servicer Guide 6302.34 — Special delivery requirements for Mortgages with secondary financing
Freddie Mac Single-Family Seller/Servicer Guide section 6302.34 — Special delivery requirements for Mortgages with secondary financing. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 6302.34 — Special delivery requirements for Mortgages with secondary financing — 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 6302.34 — Special delivery requirements for Mortgages with secondary financing
■ General requirements ■ Data delivery instructions (a) General requirements See Sections 4204.1 and 4204.2 for requirements regarding Mortgages with secondary financing, including Affordable Seconds®. (b) Data delivery instructions (i) Each subordinate lien With respect to each subordinate lien, the Seller must deliver the following ULDD Data Points: Data Required for All Subordinate Liens Sort ID ULDD Data Point Valid Value Notes LOAN – Current → Secondary Financing / Related Loan Details (Deliver for each Related Loan.) 510 Loan Role Type1, 2 Related Loan 514 Loan State Date1 Enter the date the data is retrieved from the Seller’s delivery system. 515 Loan State Type1 Current 517 Lien Priority Type ▪ Second Lien ▪ Third Lien ▪ Fourth Lien 519 Mortgage Type Conventional PROPERTY →→ Secondary Financing Details (Deliver for each Related Loan.) 513.1 Loan Affordable Indicator ▪ false ▪ true Enter “false” unless secondary financing is an Affordable Second. 1 This data point name does not appear as a Loan Selling Advisor® input field, but instead is reflected in a screen heading or section. 2 This data point must be populated to save the file in Loan Selling Advisor. (ii) Each closed-end subordinate lien For each subordinate lien that is a closed-end loan, the Seller must deliver the following ULDD Data Points in addition to the ULDD Data Points required for all subordinate liens in Section 6302.34(b)(i): Data Required for All Closed-End Subordinate Liens Sort ID ULDD Data Point Valid Value Notes LOAN – Current → Secondary Financing Details – (Deliver for each Related Loan.) →→ Closed-end Second 516 UPB Amount Enter the balance of the closed-end subordinate Mortgage. →→ HELOC Details 513 HELOC Indicator false (iii) Each Home Equity Line of Credit (HELOC) For each subordinate lien that is a HELOC, the Seller must deliver the following ULDD Data Points in addition to the ULDD Data Points required for all subordinate liens in Section 6302.34(b)(i): Data Required for All HELOCs Sort ID ULDD Data Point Valid Value Notes TOTAL LOANS → Delivered LTV Values 92 Home Equity Combined LTV Ratio Percent Enter the Home Equity Line of Credit total loan-to-value (HTLTV) ratio calculated in accordance with Section 4203.1(a). For Financed Permanent Buydown Mortgages, the Mortgage amount used to determine the HTLTV ratio includes the financed discount points. For super conforming Mortgages, when the field review value results in a different value from the appraised value, the value used to determine the HTLTV ratio is the least of the appraised value, field review value or sales price. LOAN – Current → Secondary Financing Details (Deliver for each Related Loan.) →→HELOC Details 513 HELOC Indicator true 511 Current HELOC Maximum Balance Amount Enter the HELOC maximum credit line as of the Note Date of the First Lien Mortgage. If the maximum credit line has been Data Required for All HELOCs Sort ID ULDD Data Point Valid Value Notes modified, enter the modified maximum amount. 512 HELOC Balance Amount Enter the disbursed amount of the HELOC, not the maximum credit line. (iv) Mortgages with Affordable Seconds For Mortgages with Affordable Seconds that have the following characteristics, the Seller must deliver the following ULDD Data Points in addition to the ULDD Data Points required for all subordinate liens in Section 6302.34(b)(i) and for closed-end subordinate liens in Section 6302.34(b)(ii): (A) All Mortgages with Affordable Seconds For all Mortgages with Affordable Seconds, the Seller must deliver the following ULDD Data Points: Data Required for All Mortgages with Affordable Seconds Sort ID ULDD Data Point Valid Value Notes LOAN – Current → Secondary Financing Details (Deliver for each Related Loan.) 513.1 Loan Affordable Indicator true Enter “true” for Mortgages with Affordable Seconds. (B) Mortgages with Affordable Seconds entered into Loan Product Advisor® in the “Total Gift Fund” field For Mortgages with Affordable Seconds entered into Loan Product Advisor® in the “Total Gift Fund” field, the Seller must deliver the following ULDD Data Point: Data Required for Mortgages with Affordable Seconds Entered into Loan Product Advisor® in the “Total Gift Fund” Field Sort ID ULDD Data Point Valid Value Notes LOAN – Current → Product Details 368 Investor Feature Identifier G18 Enter this value for Mortgages with Affordable Seconds treated as a gift in Loan Product Advisor® version 4.8.01 or Data Required for Mortgages with Affordable Seconds Entered into Loan Product Advisor® in the “Total Gift Fund” Field Sort ID ULDD Data Point Valid Value Notes earlier as described in Bulletin 2020-26. Sellers are not required to enter this value for Mortgages with Affordable Seconds in Loan Product Advisor version 5.0.06 or higher. (C) Mortgages with Affordable Seconds from certain allowable sources For Mortgages with Affordable Seconds from certain allowable sources described in Section 4204.2(a)(i), the Seller must deliver the following ULDD Data Points: Data Required for Mortgages with Affordable Seconds from Certain Sources Sort ID ULDD Data Point Valid Value Notes LOAN – Current → Product Details 368 Investor Feature Identifier ▪ J07 ▪ J54 If applicable, the Seller must identify the source of the Affordable Second: Enter J07 to indicate “Non-profit not affiliated with Government Agency Affordable Second” as described in Section 4406.10 for Mortgages secured by properties subject to income-based resale restrictions and originated with an Affordable Second from a nonprofit entity that is also the property seller but is not affiliated with a government agency. Enter J54 to indicate “Mortgage with Seller-funded Affordable Second” for a Home Possible® Mortgage as described in Section 4204.2(a)(i)(B) or a HeritageOne® Mortgage as described in Section 4504.5(d). (D) Purchase Mortgages with Affordable Seconds that are not a HELOC For purchase Mortgages with Affordable Seconds that are non-HELOC, the Seller must deliver the following ULDD Data Points: Data Required for Purchase Mortgages with Affordable Seconds that are not a HELOC Sort ID ULDD Data Point Valid Value Notes LOAN – Current → Secondary Financing Details – (Deliver for each Related Loan.) →→ Closed-end Second 515.1 Initial Principal And Interest Payment Amount Enter the dollar amount of the principal and interest payment as stated on the Note for the related loan. Enter “0” for Affordable Seconds meeting the requirements of Section 4204.2(a)(iii), where the principal and interest payment on the related loan is not due for the first five or more years following the Note Date. → HELOC Details 513 HELOC Indicator false (v) Home Possible Mortgages with RHS Leveraged Seconds For additional delivery requirements for Home Possible Mortgages with RHS Leveraged Seconds, see Section 6302.14(b)(iv).
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 6302.34 — Special delivery requirements for Mortgages with secondary financing
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-6302-34/
· register fhlmc-6302-34 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.