Freddie Mac Single-Family Seller/Servicer Guide 5705.11 — Documents to be delivered to the Document

Freddie Mac Single-Family Seller/Servicer Guide 5705.11 — Documents to be delivered to the Document

Custodian and other documents to be maintained by Seller (03/05/25) This section contains requirements related to: ■ Mortgage file documentation ■ Other file documents ■ Retention of Cooperative Project documentation ■ Document Custodian documentation (a) Mortgage file documentation A copy of the Recognition Agreement and a copy of the Proprietary Lease must be maintained in the Mortgage file. (b) Other file documents Seller must maintain the following documentation on the Cooperative Corporation and the Cooperative Project: 1. Most recent two year’s financial statements including income and expense statement and all footnotes 2. Current fiscal year’s operating budget 3. One of the following forms of evidence that the Cooperative Project meets insurance requirements: i. Original policy (including a commercial package policy under which the required coverages may be provided in whole or in part) and applicable endorsements ii. Copy of the original policy and applicable endorsements, if the copy meets the Mortgage file retention requirements of Chapter 3302; or iii. Certificate, evidence or declarations of insurance, which must include the following information: ■ Name of insured Cooperative Corporation (as “First Named Insured”) ■ Name and address of Cooperative Project mortgagee(s) ■ Address of insured Cooperative Project ■ Type, limit and effective dates of coverage ■ Deductible amount and applicable coverage for each deductible ■ Any endorsement or optional coverage obtained and made part of the original policy ■ Insurer’s agreement to provide at least 10 days’ notice to the Cooperative Corporation, the Cooperative Project mortgagee and the Cooperative Unit mortgagee before any reduction in coverage or cancelation of the policy; and ■ Signature of an authorized representative of the insurer The Servicer must maintain a specimen of each policy and endorsement for which a certificate, evidence or declarations of insurance is maintained in lieu of the policy and endorsements. (c) Retention of Cooperative Project documentation The Seller/Servicer must retain all Cooperative Project documentation that supports its warranty that the Cooperative Project meets Freddie Mac requirements for: ■ As long as Freddie Mac retains an interest in the applicable Cooperative Share Loan, and ■ At least seven years from the date Freddie Mac’s interest in the Cooperative Share Loan is satisfied (d) Document Custodian documentation See Section 6304.2(b) for documents that Seller/Servicers must submit to the Document Custodian.

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