Freddie Mac Single-Family Seller/Servicer Guide 6302.46 — Special delivery requirements for Refi Possible® Mortgages
Freddie Mac Single-Family Seller/Servicer Guide section 6302.46 — Special delivery requirements for Refi Possible® Mortgages. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 6302.46 — Special delivery requirements for Refi Possible® Mortgages — 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 6302.46 — Special delivery requirements for Refi Possible® Mortgages
■ General requirements ■ Data delivery instructions ■ Delivery of Mortgages with recourse or indemnification ■ Delivery of Mortgages with credit enhancements for less than the life of the Mortgage (a) General requirements See Section 4302.5 for special eligibility requirements for Refi Possible® Mortgages. (b) Data delivery instructions For Refi Possible Mortgages, the Seller must deliver the following ULDD Data Points: Data Required for Refi Possible Mortgages Sort ID ULDD Data Point Valid Value Notes LOAN – At Closing →Loan Details 315 Loan Purpose Type Refinance 294 Refinance Cash Out Determination Type No Cash Out → Streamlined Loan Details 222 Related Loan Investor Type FRE 221 Related Investor Loan Identifier <Associated FRE Loan #> This is the 9-digit Freddie Macsupplied number assigned to the original Mortgage by the Seller when the Mortgage was initially sold to Freddie Mac. LOAN – Current → Product Details 368 Investor Feature Identifier J05 Enter this value to indicate Refi Possible Mortgage. (c) Delivery of Mortgages with recourse or indemnification In connection with the delivery of each Refi Possible Mortgage where the Mortgage being refinanced had recourse as described in Section 4302.6, the Seller must deliver “001” (indicating the Mortgage is sold with recourse) in the ULDD Data Point Investor Feature Identifier, if the Mortgage being refinanced was sold with recourse for the life of the Mortgage or the Mortgage was credit enhanced with recourse for the life of the Mortgage after it was sold to Freddie Mac. In connection with the delivery of each Refi Possible Mortgage where the Mortgage being refinanced had indemnification as described in Section 4302.6, the Seller must deliver “033” (indicating the Mortgage is sold with indemnification) in the ULDD Data Point Investor Feature Identifier, as applicable, if the Mortgage being refinanced was sold with indemnification for the life of the Mortgage or the Mortgage was credit enhanced with indemnification for the life of the Mortgage after it was sold to Freddie Mac. If the Mortgage being refinanced was either sold to Freddie Mac with a credit enhancement or credit enhanced after it was sold to Freddie Mac, with indemnification or recourse for less than the life of the Mortgage, the Seller must not deliver ULDD Data Point Investor Feature Identifiers “001” or “033” indicating the Refi Possible Mortgage is subject to recourse or indemnification. In this instance, Freddie Mac will manage the transfer of the credit enhancement from the Mortgage being refinanced to the Refi Possible Mortgage. (d) Delivery of Mortgages with credit enhancements for less than the life of the Mortgage If the Mortgage being refinanced was either sold to Freddie Mac with a credit enhancement, or credit enhanced for a period of less than the life of the loan after it was sold to Freddie Mac, the Seller must not deliver any credit enhancement related ULDD Data Point Investor Feature Identifiers indicating that the Refi Possible Mortgage is subject to a credit enhancement.
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 6302.46 — Special delivery requirements for Refi Possible® Mortgages
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Source of record: https://claudeforcompliance.com/regs/fhlmc-6302-46/
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