Freddie Mac Single-Family Seller/Servicer Guide 6305.3 — Wire transfer and settlement instructions for Pledged Mortgages

Freddie Mac Single-Family Seller/Servicer Guide 6305.3 — Wire transfer and settlement instructions for Pledged Mortgages

Effective 2026-07-01 · Freddie Mac's stamp for this section

This section contains requirements related to: ■ Wire transfer instructions for Pledged Mortgages sold for cash ■ UMBS®, MBS and WAC ARM PC delivery instructions for Pledged Mortgages (a) Wire transfer instructions for Pledged Mortgages sold for cash (i) Submission of wire transfer authorization and warehouse provider release and transfer With each delivery of Pledged Mortgages to be sold to Freddie Mac for cash through Loan Selling Advisor®, the Seller must: 1. Submit a completed, executed and duly authorized Form 987E, Wire Transfer Authorization for a Warehouse Delivery. This form is a general wire transfer authorization for all contracts under which Pledged Mortgages are offered for sale to Freddie Mac using Loan Selling Advisor. A separate Form 987E is not required for each contract, but the Seller must: ■ Execute a Form 987E for each of the Seller’s Warehouse Lenders, ■ Provide Freddie Mac with a new Form 987E for any change to the wire transfer instructions, and ■ Deliver Form 987E to Freddie Mac as an Electronic Record (as defined in Section 1401.1(b)), using a Portable Document Format (PDF) (or other Electronic Record format commonly used in the mortgage industry), that has been completed and contains the copy or representation of the pen and ink signature of the Authorized Employee (such copy or representation of the Authorized Employee’s signature shall be such Authorized Employee’s adopted Electronic Signature as defined in Section 1401.1(b)) and either: ❑ An attachment to an e-mail sent to [email protected], or ❑ An upload through the Freddie Mac eBilling system 2. Complete Form 996E, Warehouse Provider Release and Transfer, available only through Loan Selling Advisor, for the Warehouse Lender to submit to Freddie Mac in Loan Selling Advisor by no later than 12:30 p.m. Eastern time on the Business Day immediately preceding the Funding Date. (ii) Delivery of Electronic records and signatures Freddie Mac and the Seller agree that delivery of Electronic Records with Electronic Signatures are eligible Electronic Transactions, as defined in Section 1401.1(b), and are governed by the applicable provisions of Chapter 1401. If Freddie Mac does not receive wire transfer instructions on Form 987E or the Warehouse Lender’s release or transfer of its interest in the Pledged Mortgages on Form 996E in sufficient time to process payments, Freddie Mac may, in its sole discretion, postpone the Funding Date. If Freddie Mac does not receive the Warehouse Lender’s Form 990SF, Agreement and Certificate of Incumbency: Warehouse Lender, in sufficient time to process it and to assign User Roles for the Warehouse Lender’s access to Loan Selling Advisor or believes that the Certificate of Incumbency cannot be relied upon, or that its information is not reliable, Freddie Mac may, in its sole discretion, postpone the Funding Date. (b) UMBS, MBS and WAC ARM PC delivery instructions for Pledged Mortgages (i) Completing wire transfer information For Pledged Mortgages allocated to a Guarantor or MultiLender Swap Contract, the Seller must complete: ■ All requested wire transfer information and instructions in the applicable screens in Loan Selling Advisor ■ Form 996E, which the Warehouse Lender must submit to Freddie Mac as described in Section 6305.4(b) (ii) Authorization requirements for employees The employee authorized to perform the Setup Manager role (to approve wire transfer information and instructions in the applicable Loan Selling Advisor screens on the Seller’s behalf) must be an “Authorized Employee” on the Seller’s Certificate(s) of Incumbency (See Section 2201.1 for additional information.) If the person performing the Setup Manager role is not an Authorized Employee, Freddie Mac may postpone the Settlement Date. See Section 2403.2(b) regarding designating Authorized Employees. See Sections 6203.3(c), 6204.3(c) and 6205.3(c) for additional instructions for delivering Certificates of Incumbency and submitting Form 996E for fixed-rate Guarantor, WAC ARM Guarantor and MultiLender Swap Contracts, respectively. (iii)Submission of Warehouse Provider release and transfer The person who submits Form 996E for the Warehouse Lender must be authorized on Form 990SF to provide Freddie Mac with instructions (or to modify instructions) to transfer funds on behalf of the Warehouse Lender. (See Section 6305.4(c) for additional information.) Freddie Mac may, in its sole discretion, postpone the Settlement Date if: ■ The person submitting Form 996E is not an Authorized Employee, ■ Freddie Mac does not receive Form 990SF in sufficient time to process it, or ■ Freddie Mac believes that the Certificate of Incumbency cannot be relied upon or that the information on the Certificate of Incumbency is unreliable

Source: Freddie Mac Single-Family Seller/Servicer Guide 6305.3 — Wire transfer and settlement instructions for Pledged Mortgages · source URL · snapshot 4c94f67729042dd6