Freddie Mac Single-Family Seller/Servicer Guide 6301.4 — Completion and substitution of delivery

This section contains requirements related to: ■ Completion of delivery ■ Mortgage substitutions

(a) Completion of delivery Settlement cannot occur until delivery is complete. Delivery is considered complete when: ■ All loan data, other information and documentation required by the Purchase Documents are delivered to and accepted by Freddie Mac. If the Mortgage is registered on the MERS® System, the Seller/Servicer must, in addition to any requirements set forth in the MERS Governing Documents: ❑ Register such Mortgages with MERS prior to loan delivery to Freddie Mac, ❑ Supply the MIN for Mortgages registered with MERS at the time of delivery, and ❑ Indicate the MIN on the Security Instrument and related documents, regardless of whether the Seller/Servicer retains the documents or sends them to the Document Custodian Note: For further information on MERS, refer to Exhibit 5A, Authorized Changes to Notes, Riders, Security Instruments and the Uniform Residential Loan Application. ■ The Notes and all other required documentation are delivered to and certified by the Document Custodian. The Seller/Servicer must provide the Document Custodian with sufficient information so that if there is a Subsequent Transfer of Servicing, the Transferor Servicer and Freddie Mac can determine whether a Mortgage that is included in such Subsequent Transfer of Servicing is registered with MERS at the time of the transfer, as required by Section 7101.4(c). Prior to certification, the Seller must identify and track the Notes and other loan documents on its system as Mortgages to be sold to Freddie Mac. In addition, Freddie Mac may require that, at the Seller’s expense, the Freddie Mac loan number be affixed to the face of each Note. (i) Settlement timing and conditions If the Seller does not complete its Guarantor or MultiLender Swap delivery by 8:00 PM Eastern Time on the day immediately preceding the scheduled Settlement Date, Freddie Mac has the right, in its sole discretion, to cancel or postpone the settlement or funding until delivery has been completed. For information regarding pair-off of Cash contracts, see Section 6401.1. The Seller indemnifies and holds Freddie Mac, its directors, officers, employees, successors, assigns and fiscal and transfer agents harmless from and against any and all losses, damages, claims, demands, actions, suits or liabilities, joint or several, to which Freddie Mac may become subject and shall reimburse Freddie Mac for any legal or other expenses reasonably incurred by Freddie Mac in connection with any losses, damages, claims, demands, suits, liabilities or actions with respect to Freddie Mac’s cancelation or postponement of any settlement or funding insofar as such losses, claims, damages, demands, suits, liabilities or actions arise out of or are based upon Freddie Mac’s cancelation or postponement of a settlement or funding. (ii) Delivery and certification requirements The Document Custodian eligibility and contract requirements of Sections 2202.1(b) and 2202.2 must be met, in addition to the following requirements: ■ The Document Custodian must have received and certified, as required by Sections 6304.2 and 6304.3, the following: ❑ Form 1034E, Custodial Certification Schedule, or the “Note Delivery Cover Sheet” Note: Form 1034E and the Note Delivery Cover Sheet are available only through Loan Selling Advisor®, and the Seller is not required to maintain a copy. ❑ For each Mortgage, the original Note, endorsed as required by Section 6301.2(a), along with the originals of any addenda or other modifying instruments to the Note ❑ Any documentation, if applicable, indicating that the Mortgages were closed with MERS as original mortgagee of record ❑ The original assignments of the Security Instruments, prepared and completed as required by Section 6301.2(d), unless the Mortgages are registered with MERS and the Seller/Servicer has elected to retain all required assignments in the Mortgage files The Seller/Servicer must supply its Document Custodian with any documentation necessary for the Document Custodian to determine if it should expect to receive assignments for MERS-registered Mortgages. If a recorder’s office has not yet returned a recorded Intervening Assignment to the Seller/Servicer, the Seller/Servicer must deliver a certified copy of the assignment sent for recordation to the Document Custodian. The original recorded assignment must be delivered to the Document Custodian immediately after the Seller/Servicer receives it from the recorder’s office. If a jurisdiction does not accept assignments for recordation, the Seller/Servicer must so indicate in an affidavit delivered to the Document Custodian with the unrecorded Intervening Assignment. ❑ The following documents, if applicable: 1. The original Freddie Mac Multistate Agreement to Convert, Form 3180 2. The original assumption agreement 3. The original addendum 4. The original or a certified copy of the power of attorney, if original is sent for recordation 5. The original, or a certified copy if the original is sent for recordation, of the Multistate Loan Modification Agreement (to a Fixed Interest Rate), Form 5161, or comparable modification agreement that complies with the Guide 6. The original or a certified copy of Form 3172, New York Consolidation, Extension and Modification Agreement (NY CEMA), if original was sent for recordation. Note: See Section 4101.11 for additional documentation delivery requirements for Mortgages originated using a NY CEMA. 7. For a modified Construction to Permanent Mortgage or a Renovation Mortgage, the original, or a certified copy if the original is sent for recordation, of the Construction to Permanent Modification Agreement ❑ Any other documentation that Freddie Mac, in its discretion, may require ■ Freddie Mac’s Mortgage Purchase Department (see Directory 8) must receive the following by the Delivery Date: ❑ For Pledged Mortgages: the forms required by Sections 6305.2(b), 6305.3(a) and 6305.3(b) ❑ Any other documentation that Freddie Mac, in its discretion, may require ■ Freddie Mac (see Directory 9) must have received any other documentation that Freddie Mac, in its discretion, may require (iii)Additional Seller, Servicer and Document Custodian responsibilities Prior to or immediately after settlement, the Seller must enter the Freddie Mac loan numbers assigned to the Mortgages into the Seller’s system and associate such numbers with the Mortgages so that Seller can identify, track and service the Mortgages for Freddie Mac. If there is a Concurrent Transfer of Servicing, the Transferee Servicer must enter the Freddie Mac loan numbers assigned to the Mortgages by Freddie Mac into the Transferee Servicer’s computerized servicing system and associate such numbers with the Mortgages so that the Transferee Servicer may identify, track and service the Mortgages for Freddie Mac. For all Mortgages, the Seller, Servicer and Document Custodian must comply with all requirements in the Guide and other Purchase Documents. The Seller, Servicer, Document Custodian and/or their successors, assigns and transferees, as applicable, are fully responsible, on an ongoing basis, for the proper delivery, certification, identification and tracking of all Notes for Mortgages sold to Freddie Mac.

(b) Mortgage substitutions To substitute a Mortgage for another Mortgage previously delivered to Freddie Mac for sale, as permitted or required by Freddie Mac, the Seller must submit the documents required by Section 6301.4(a). Upon confirmation of Freddie Mac’s acceptance of a substitute Mortgage, the Seller/Servicer may obtain the Note and related documents for the previously delivered Mortgage from the Document Custodian in accordance with Section 8107.2(c). If Freddie Mac requires substitution for a Mortgage, the Seller will deliver a Mortgage that meets all of the requirements of the Purchase Documents and has an outstanding principal balance that enables the Seller to fulfill the contract commitment amount. The Seller can change the terms of the contract to increase the commitment amount by executing a contract change request; the Seller will be required to pay a fee if Freddie Mac deems it necessary. The Seller will be required to pay Freddie Mac any differential between the outstanding principal balance of the Mortgage being purchased by Freddie Mac and the Mortgage for which it is being substituted. The Seller must deliver such substitute Mortgage by the contract Due Date. If a substitute Mortgage has a different Note Rate from that of the previously delivered Mortgage, it must be within the Note Rate range established for the contract.