Freddie Mac Single-Family Seller/Servicer Guide 2101.15 — Seller/Servicer responsibilities regarding Related Third Parties

Freddie Mac Single-Family Seller/Servicer Guide 2101.15 — Seller/Servicer responsibilities regarding Related Third Parties

Effective 2026-08-05 · Freddie Mac's stamp for this section

(a) Aggregators and the sale of Wholesale Home Mortgages (i) Approval required In order to sell Wholesale Home Mortgages to Freddie Mac, an institution must be approved by Freddie Mac as a Seller of Wholesale Home Mortgages. This approval is separate from the approvals referenced in Section 2101.1(a). Freddie Mac may require that the Seller provide additional information and documentation relating to the Seller and its Wholesale Home Mortgage program, policies and procedures and satisfy certain conditions in connection with Freddie Mac’s approval. (ii) Responsibility and oversight With respect to Wholesale Home Mortgages sold by an Aggregator to Freddie Mac, although certain functions described in the Purchase Documents may be performed by a Third-Party Originator, the Aggregator is responsible for compliance with the requirements of all Purchase Documents. As part of such responsibility, the Aggregator is responsible for ensuring that such Mortgages satisfy general eligibility requirements (see Chapter 4201) and comply with all requirements of all applicable federal, State and local laws, rules and regulations (see Section 4202.1). In addition to the requirements of Section 4201.8, the Aggregator must operate a Wholesale Home Mortgage oversight program that is acceptable to Freddie Mac. Such program must: ■ Be formally documented ■ Ensure that all Wholesale Home Mortgages sold to Freddie Mac have been subject to a quality control program that satisfies the applicable requirements set forth in Section 3402.1(a) and that employs a stratified sampling methodology to ensure adequate representation of Mortgages related to Third-Party Originators ■ Ensure that Third-Party Originators that use Electronic Loan Documents satisfy the applicable requirements set forth in Section 1401.3(c) ■ Provide for the maintenance of records and information relating to each Third-Party Originator, including up-to-date pipeline information regarding committed and inprocess Mortgages relating to such Third-Party Originator ■ Ensure privacy or cyber events reported by Third-Party Originators to Aggregators are reported to Freddie Mac within 36 hours of receiving notice in accordance with guidelines outlined in Chapter 1302 ■ Ensure that neither the Third-Party Originator nor its Senior Management is on the Exclusionary List with respect to any related Wholesale Home Mortgage sold to Freddie Mac ■ Include and execute a process for the documented due diligence of all Third-Party Originators, which due diligence must include, but not be limited to, review of: ❑ Most recent financial statements ❑ Current permits, licenses and regulatory approvals ❑ Resumes or other relevant information of principal officers managing the underwriting and originating process ❑ Background checks for Senior Management ❑ Information security programs with documented processes and controls to manage Incidents (as defined in Section 1302.5(a)) and other risk events and ensure timely notification and reporting to the Aggregator Incidents and other risk event, and if a Third-Party Originator has access to any Freddie Mac System (as defined in Section 2401.1(b)), such program must incorporate documented processes and controls substantially similar to those required of Seller/Servicers under Chapter 1302 ❑ Fraud risk management programs that incorporate documented processes and controls substantially similar to those required of Seller/Servicers under Chapter 3201, including processes and controls to detect and identify fraud, suspected fraud and other Suspicious Activity and ensure timely notification and reporting to the Aggregator of any activity outlined in Section 3201.2(c) Upon request of Freddie Mac, the Aggregator must promptly provide to Freddie Mac information and documentation relating to its Wholesale Home Mortgage oversight program and any requested pipeline information, records or due diligence documentation related to Third-Party Originators. (iii) Freddie Mac rights regarding Mortgages from Third-Party Originators As part of its risk management program, Freddie Mac shall have the right to take actions or impose conditions on its purchase of Wholesale Home Mortgages, either programmatically or with respect to specific Third-Party Originators. Such actions or conditions may include, but are not limited to: ■ Freddie Mac may require that a portion or all of the Mortgages relating to a ThirdParty Originator be subjected to a quality control review prior to any sale to Freddie Mac, with such quality control review performed by either the Aggregator or a thirdparty quality control services company engaged by the Third-Party Originator ■ Freddie Mac may cease purchasing a portion or all of the Mortgages relating to a Third-Party Originator and direct the Aggregator not to sell such Mortgages to Freddie Mac

Source: Freddie Mac Single-Family Seller/Servicer Guide 2101.15 — Seller/Servicer responsibilities regarding Related Third Parties · source URL · snapshot 4c94f67729042dd6