Freddie Mac Single-Family Seller/Servicer Guide 3302.2 — Security and contingency measures

Freddie Mac Single-Family Seller/Servicer Guide 3302.2 — Security and contingency measures

Effective 2025-12-17 · Freddie Mac's stamp for this section

This section contains requirements related to: ■ Damage or loss of Mortgage files ■ Transfer of Mortgage files; security of Mortgage file information (a) Damage or loss of Mortgage files The Servicer must bear the entire cost of promptly restoring Mortgage files and related documents and records damaged or lost for any reason. (b) Transfer of Mortgage files; security of Mortgage file information Freddie Mac may at any time require the Servicer to deliver the following documents to a Document Custodian approved by Freddie Mac or a transferee designated by Freddie Mac: ■ Any original Note, Security Instrument, assignment and modifying instrument still in the Servicer’s custody ■ Any Mortgage file, document within a Mortgage file or other related documents and records in the Servicer’s or its Document Custodian’s custody, whether maintained as originals or as copies in accordance with Section 3302.1(b) The Servicer may, without Freddie Mac’s prior approval, entrust custody of all or part of the Mortgage file to the Document Custodian holding Notes and assignments under Section 2202.1(b). When requested, the Servicer must be able to identify to Freddie Mac those file items held by the Document Custodian and document to Freddie Mac the Document Custodian’s acknowledgment that such file items: ■ Are Freddie Mac’s property ■ Will be maintained by the Document Custodian according to standards at least equal to those set in this chapter ■ Will be maintained in such a way as to: ❑ Ensure the security and confidentiality of the information, ❑ Protect against anticipated threats or hazards to the security or integrity of the information, and ❑ Protect against unauthorized access to or use of such information ■ Will be surrendered to Freddie Mac at any time Freddie Mac may request them The Servicer agrees to indemnify Freddie Mac and hold Freddie Mac harmless for any loss, damage or expense (including court costs and reasonable attorney fees) that Freddie Mac may incur as a result of the Document Custodian’s holding all or part of the Mortgage file. The Servicer must maintain a copy (in a form allowable under Section 3302.1(b)) of any original document that has been entrusted to the Document Custodian for safekeeping. If all or part of the Mortgage file is held by the Servicer’s Document Custodian, the Servicer agrees to recover from the Document Custodian (at the Servicer’s expense) and provide to Freddie Mac (at the place and within the time frame specified by Freddie Mac) any Document Custodian-held original document requested by Freddie Mac for the postfunding quality control detailed in Chapter 3301 or in conjunction with a Freddie Mac desktop or onsite review of the Servicer’s Servicing operations.

Source: Freddie Mac Single-Family Seller/Servicer Guide 3302.2 — Security and contingency measures · source URL · snapshot 4c94f67729042dd6