Freddie Mac Single-Family Seller/Servicer Guide 8601.2 — Limited power of attorney

Freddie Mac Single-Family Seller/Servicer Guide 8601.2 — Limited power of attorney

Effective 2025-09-10 · Freddie Mac's stamp for this section

The brown font text used throughout this chapter denotes the special requirements for Servicing Senior Subordinate Mortgages. Text in black or green font denotes general Servicing requirements that also apply elsewhere in the Guide. This section contains requirements related to: ■ Limited power of attorney ■ Requesting a limited power of attorney (a) Limited power of attorney Each Senior Subordinate Trust appoints Freddie Mac as attorney-in-fact to act on behalf of each Senior Subordinate Trust for purposes of: ■ Signing all documents necessary to service the Senior Subordinate Mortgage ■ Pursuing foreclosure ■ Releasing the lien ■ Endorsing the Note and executing other instruments and documents in connection with the Senior Subordinate Mortgage ■ Taking title to the Mortgaged Premises as a result of a deed-in-lieu of foreclosure or foreclosure sale ■ Selling the Senior Subordinate Trust’s REO and taking all other necessary actions in connection with the Servicing of a Senior Subordinate Mortgage and for the preservation, maintenance and disposition of REO owned by the Senior Subordinate Trust Further, each Senior Subordinate Trust authorizes Freddie Mac to further delegate to Servicers Freddie Mac’s authority to act as attorney-in-fact on behalf of each Senior Subordinate Trust for the purposes stated above and, in furtherance of such authority, Freddie Mac has provided the Servicer with a limited power of attorney to act as attorney-in-fact on behalf of each Senior Subordinate Trust. Before exercising the authority delegated by Freddie Mac under the limited power of attorney, the Servicer must: ■ Determine, in consultation with its retained counsel, whether the Servicer may, under applicable law, rely on the limited power of attorney before pursuing foreclosure on behalf of the Senior Subordinate Trust or otherwise exercising the authority set forth in the limited power of attorney in connection with the Servicer’s Servicing of a Senior Subordinate Mortgage and/or taking action in connection with the preservation, management or disposition of the REO ■ If the Servicer determines that it is unable to rely on the limited power of attorney in connection with its intended exercise of any of the authority granted under the limited power of attorney in connection with its obligations under the Guide, then the Servicer must notify Freddie Mac (see Directory 5) and await further instructions (b) Requesting a limited power of attorney A Servicer that has determined they are in need of one or more limited powers of attorney in order to properly service one or more Senior Subordinate Mortgages must submit a request to Freddie Mac (see Directory 5) that includes the following: 1. The name of the applicable Senior Subordinate Trust, including the associated Series number 2. The legal name of the Servicer 3. A statement, in the subject line of the request, that specifies the request is for a limited power of attorney on behalf of a Senior Subordinate Trust 4. The number of limited powers of attorney requested 5. A shipping label, included as an attachment, listing the name, mailing address and phone number of the Servicer employee that will receive the limited powers of attorney

Source: Freddie Mac Single-Family Seller/Servicer Guide 8601.2 — Limited power of attorney · source URL · snapshot 4c94f67729042dd6