Freddie Mac Single-Family Seller/Servicer Guide 4201.4 — Closed Mortgages and Settlement Date requirements
Freddie Mac Single-Family Seller/Servicer Guide section 4201.4 — Closed Mortgages and Settlement Date requirements. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4201.4 — Closed Mortgages and Settlement Date requirements — 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 4201.4 — Closed Mortgages and Settlement Date requirements
This section contains: ■ Closed Mortgage requirements ■ Settlement Date requirements ■ Additional requirements for Mortgages with Settlement Dates more than 120 days after the Note Date (a) Closed Mortgage requirements The Mortgage must be closed before delivery to Freddie Mac. Final disbursement of the Mortgage proceeds constitutes closing of the Mortgage. Construction to Permanent and Renovation Mortgages must be delivered after the Effective Date of Permanent Financing. The Mortgage must be closed in the Seller’s name as lender or validly assigned and endorsed to the Seller as a holder-in-due-course. (b) Settlement Date requirements The Settlement Date must occur no more than six months after the: ■ Note Date ■ Effective Date of Permanent Financing for Construction to Permanent Mortgage and Renovation Mortgages. See Chapter 4602 for eligibility requirements. ■ Modification Date for Seller-Owned Modified Mortgages. See Chapter 4402 for eligibility requirements. ■ Conversion date for Seller-Owned Converted Mortgages. See Chapter 4402 for eligibility requirements. ■ Date of the New York Consolidation, Extension and Modification Agreement (NY CEMA) for a refinance Mortgage secured by property in New York State documented using the NY CEMA. See Section 4101.11 for eligibility requirements. Exception: For CHOICERenovation® Mortgages with Settlement Dates after completion of renovations, the Settlement Date must occur no more than 450 days after the Note Date. See Section 4607.4(a). (c) Additional requirements for Mortgages with Settlement Dates more than 120 days after the Note Date Certain Mortgages with Settlement Dates more than 120 days after the Note Date have additional requirements stated elsewhere in the Guide as described in the table below. Additional requirements for Mortgages with Settlement Dates more than 120 days after the Note Date Topic Guide location Automated collateral evaluation (ACE) Section 5602.3(h) ACE+ PDR Section 5602.4(h) Appraisals Section 5604.3(a)(iii) Condominium Unit Mortgages Sections 5701.2(b), 5701.10(j) and 5701.11(d) Cooperative Share Loans Section 5705.2(b)
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 4201.4 — Closed Mortgages and Settlement Date requirements
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Source of record: https://claudeforcompliance.com/regs/fhlmc-4201-4/
· register fhlmc-4201-4 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.