Freddie Mac Single-Family Seller/Servicer Guide 4502.4 — Loan purpose, eligible property and occupancy types and underwriting requirements for Community Land Trust Mortgages
Freddie Mac Single-Family Seller/Servicer Guide section 4502.4 — Loan purpose, eligible property and occupancy types and underwriting requirements for Community Land Trust Mortgages. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4502.4 — Loan purpose, eligible property and occupancy types and underwriting requirements for Community Land Trust 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 4502.4 — Loan purpose, eligible property and occupancy types and underwriting requirements for Community Land Trust Mortgages
This section contains subsections related to: ■ Loan purpose ■ Eligible property and occupancy types ■ Underwriting requirements (a) Loan purpose A Community Land Trust Mortgage may be a purchase, “no cash-out” refinance or cash-out refinance Mortgage. In addition to the requirements of Chapter 4301 relating to refinance Mortgages, any refinance transaction must comply with the applicable requirements of the Community Land Trust, including, but not limited to, the amount of the refinance Mortgage and, in the case of a cash-out refinance Mortgage, the amount of proceeds disbursed to the Borrower. The Seller must obtain and retain in the Mortgage file documentation signed by the Community Land Trust or its authorized representative permitting the Borrower to enter into a refinance transaction. (b) Eligible property and occupancy types A Community Land Trust Mortgage must be secured by a 1- or 2-unit Primary Residence that is not a Manufactured Home. A Community Land Trust Mortgage secured by a 1-unit Primary Residence may be a CHOICEHome®. Note: For requirements for CHOICEHome Mortgages, see Section 5703.12. (c) Underwriting requirements A Community Land Trust Mortgage may be submitted to Loan Product Advisor® or may be a Manually Underwritten Mortgage. Note: For Community Land Trust Mortgages, minimum Down Payment requirements are based on the purchase price.
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 4502.4 — Loan purpose, eligible property and occupancy types and underwriting requirements for Community Land Trust Mortgages
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.
Source of record: https://claudeforcompliance.com/regs/fhlmc-4502-4/
· register fhlmc-4502-4 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.