Freddie Mac Single-Family Seller/Servicer Guide 6304.1 — Custody of Notes and assignments
Freddie Mac Single-Family Seller/Servicer Guide Section 6304.1 — Custody of Notes and assignments.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 6304.1 — Custody of Notes and assignments — 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 6304.1 — Custody of Notes and assignments
This section contains the requirements related to: ■ Delivery of original Notes ■ Definition and scope of Notes and assignments ■ Delivery instructions for Notes and assignments (a) Delivery of original Notes The Seller/Servicer selling Mortgages to Freddie Mac must deliver the original Notes for such Mortgages to a Document Custodian, which may be a Designated Custodian or another approved Document Custodian, chosen by the Seller/Servicer in accordance with the requirements of Sections 2202.1(b) and 2202.2. Freddie Mac does not accept duplicate Notes or corrected Notes. However, Freddie Mac may in special instructions, program announcements or individual Mortgage Purchase Contracts, require the Notes to be delivered to a Designated Custodian. For example, the Notes for Mortgages (other than eMortgages) sold through Cash-Released XChange® must be delivered to a Document Custodian listed in Exhibit 43, Cash-Released XChange® Document Custodians, as set forth in Section 2202.2(c). (b) Definition and scope of Notes and assignments For purposes of delivering Notes to a Document Custodian, the term “Note” includes the Note evidencing the indebtedness along with any power of attorney or any applicable modifying instrument, such as a modification, a conversion agreement or an assumption of indebtedness and release of liability agreement. The term “assignment” refers to the Intervening Assignment and to the instrument necessary to assign the Security Instrument to Freddie Mac, as described in Section 6301.2(d). (c) Delivery instructions for Notes and assignments When delivering Notes to the Document Custodian, the Seller/Servicer must also deliver all original assignments as described in Sections 6301.2(d)(i) through 6301.2(d)(iii), unless the Mortgage is registered with MERS® and the Seller/Servicer has elected to retain all assignments for MERS-registered Mortgages in the Mortgage files. If the Seller has so elected for MERS-registered Mortgages, the Seller/Servicer must provide its Document Custodian with documentation that will enable the Document Custodian to verify that the Seller/Servicer has elected to hold assignments in the Mortgage files for MERS-registered Mortgages. The following table indicates which Guide sections to reference for delivery instructions to the Document Custodian based on the type of Mortgage closing used: Instructions for delivery to the Document Custodian If the Seller/Servicer originates… Then… Mortgages using paper closing documents that have been electronically recorded in the recorder’s office See Section 1401.3(d) Mortgages using electronically created closing documents that have been electronically recorded in the recorder’s office See Section 1401.3(e) eMortgages See Section 1402.5(d)
Operationalizing Freddie Mac Single-Family Seller/Servicer Guide 6304.1 — Custody of Notes and assignments
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-6304-1/
· register fhlmc-6304-1 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.