Freddie Mac Single-Family Seller/Servicer Guide 2402.3 — Other System-Specific Licenses
Freddie Mac Single-Family Seller/Servicer Guide Section 2402.3 — Other System-Specific Licenses.
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Freddie Mac Single-Family Seller/Servicer Guide 2402.3 — Other System-Specific Licenses
This section contains requirements related to: ■ Scope and applicability ■ Definitions ■ System access and use; loan classification (a) Scope and applicability Quality Control Advisor PlusSM is a System licensed pursuant to this System-Specific License, Section 2402.2 and the Master Systems License. The System hosts certain remedy management information and quality control loan management data for Mortgages Freddie Mac owns or guarantees, as further described in its Documentation. Immediately upon a User’s first access to the System on or after the Effective Date, the Seller/Servicer shall be bound by this System-Specific License and the Master Systems License. This System-Specific License is incorporated into and made a part of the Master Systems License by this reference. Any reference herein to the System-Specific License shall be deemed to include this System-Specific License and the Master Systems License. (b) Definitions Any capitalized term used but not defined in this System-Specific License shall have the meaning set forth in the Glossary, the Master Systems License (Chapter 2401) or elsewhere in the Guide. (c) System access and use; loan classification Notwithstanding anything to the contrary in Section 2401.1(c), the Seller/Servicer shall use the applicable System only in connection with Mortgages that Freddie Mac owns or guarantees. Notwithstanding Section 2401.1(f) or any other applicable Purchase Document, the Seller/Servicer shall only access and use each System with Authentication Credentials and other Confidential Means of Access (as defined in Section 1401.2) that are specifically assigned or provisioned to an Authorized User by means of the System. In connection with its quality control efforts, Freddie Mac may classify within each System the loan and remedy management status of the Seller/Servicer Mortgages or otherwise assign labels to such Mortgages. The Seller/Servicer understands and agrees that any such classifications, labels or designations that Freddie Mac assigns to Mortgages tracked in the System do not constitute a waiver by Freddie Mac of any rights and remedies available to it under the Guide, any other Purchase Document or applicable law with respect to any such Mortgage, and Freddie Mac hereby expressly reserves all such rights and remedies.
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Source of record: https://claudeforcompliance.com/regs/fhlmc-2402-3/
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