Freddie Mac Single-Family Seller/Servicer Guide 6301.5 — Purchase, settlement and postsettlement adjustments procedures

Freddie Mac Single-Family Seller/Servicer Guide 6301.5 — Purchase, settlement and postsettlement adjustments procedures

Effective 2025-12-03 · Freddie Mac's stamp for this section

This section contains requirements related to: ■ Purchase and settlement procedures ■ Postsettlement purchase adjustments (a) Purchase and settlement procedures (i) Preparation of Form 15/A/C, Loan Purchase Statement After reviewing the submitted Mortgages, Freddie Mac will generate Form 15/A/C, Loan Purchase Statement, which will summarize the pertinent data and will include a computation of the amount to be funded to the Seller. Depending on the type of purchase, Freddie Mac will generate one of the following forms: ■ Loan Purchase Statement for Cash sales ■ Form 15A for fixed-rate Guarantor ■ Form 15C for WAC ARM Guarantor (ii) Wire transfers Wire transfers made in connection with the purchase of Mortgages will be made only to the account of the Seller maintained with an eligible banking institution, such as: ■ A Federal Home Loan Bank, ■ A commercial bank, or ■ A Federal Reserve Bank The Seller may maintain an account with the Federal Reserve Bank for clearing checks only or for receiving and disbursing of wire transfers. Before instructing Freddie Mac to make a wire transfer to an account at a Federal Reserve Bank, the Seller must ensure: ■ The account is eligible to receive direct wire transfers, and ■ The Seller has submitted to Freddie Mac, as applicable, an approved Form 988SF, Certificate of Incumbency for a Bank, Savings Bank, Savings and Loan Association, Credit Union, Corporation or Limited Liability Company, or Form 989SF, Certificate of Incumbency for Limited Partnerships, that designates employees who are authorized to provide Freddie Mac with instructions (or to modify instructions) to transfer funds or securities on the Seller’s behalf in connection with the sale of Mortgages to Freddie Mac See Chapter 6305 regarding wire transfer instructions for the purchase by Freddie Mac of Mortgages subject to financing arrangements with Warehouse Lenders. Freddie Mac will not wire transfer funds for the credit of a Servicing Agent. (b) Postsettlement purchase adjustments Generally, purchase balances cannot be adjusted after settlement because the Mortgages have been pooled for resale. After settlement and before pooling has taken place, however, it may be possible to adjust a purchase balance. If the Seller has any question regarding purchase balances before funding, the Seller should contact 800-FREDDIE immediately. Thereafter, any questions must be directed to the Seller’s accounting representative at Freddie Mac (see Directory 8).

Source: Freddie Mac Single-Family Seller/Servicer Guide 6301.5 — Purchase, settlement and postsettlement adjustments procedures · source URL · snapshot 4c94f67729042dd6