Freddie Mac Single-Family Seller/Servicer Guide Section 4101.10 — Advances

Freddie Mac Single-Family Seller/Servicer Guide Section 4101.10 — Advances

4101.10: Advances (03/05/25) This section contains requirements related to: ■ Future advances made before purchase ■ Advances made after purchase (a) Future advances made before purchase Freddie Mac will purchase Home Mortgages on which future advances have been made before the Delivery Date, provided that: ■ The advances have been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and repayment term ■ The lien securing the consolidated principal amount is expressly insured as having First Lien priority by a title insurance policy, by an endorsement to the policy insuring the consolidated mortgagee’s interest or by other title evidence acceptable to Freddie Mac as specified in this Guide ■ The consolidated principal amount does not exceed the original loan amount Sellers originating Mortgages on Uniform Instruments that do not contain a covenant permitting future advances, and who wish to allow future advances, may execute a rider permitting future advances. The rider must contain language providing that the terms shall have no force or effect subsequent to a specified date which must be before the sale of the Mortgage, in whole or in part, to Freddie Mac. In addition, the rider must contain the following provision: Notwithstanding the foregoing provisions, the ability of the lender, its successors and assigns, to enforce the repayment of future advances made prior to the sale of the Mortgage to Freddie Mac shall remain in full force and effect. Freddie Mac Single-Family Seller/Servicer Guide Chapter 4101 As of 02/04/26 Page 4101-18 (b) Advances made after purchase On Home Mortgages that have been sold to Freddie Mac, in whole or in part, the Seller or Servicer may not make additional advances. 4101.11: Origination and delivery of Mortgages using a New York Consolidation, Extension and Modification Agreement (the “NY CEMA”) (11/19/25) This section contains requirements related to: ■ Defined terms ■ Documentation ■ Delivery package for a New York Consolidation, Extension and Modification Agreement (“NY CEMA”) ■ Mortgage file documentation Freddie Mac will purchase refinance Mortgages secured by property located in New York State that are documented using an NY CEMA. The NY CEMA combines into one set of rights and obligations all of the promises and agreements stated in existing Notes and Mortgages secured by the Mortgaged Premises including, if new funds are advanced to the Borrower at the time of the consolidation, a new Note and Mortgage. The result is that the Borrower has one consolidated loan obligation, evidenced by a Consolidated Note that is paid in accordance with the terms of the NY CEMA. (a) Defined terms The following defined terms apply to this section: Defined terms related to Mortgages using an NY CEMA O Original Old Money Note The original Note executed by the Borrower that is being consolidated, extended and modified by the newly executed NY CEMA Original New Money (Gap) Note The original Note executed by the Borrower at the time the current NY CEMA is executed that represents new funds advanced to the Freddie Mac Single-Family Seller/Servicer Guide Chapter 4101 As of 02/04/26 Page 4101-19 Borrower at the time of the current consolidation In connection with the current financing transaction evidenced by the NY CEMA, the Borrower must execute a new original Note, referred to as the Consolidated Note, that consolidates, extends and modifies the Original Old Money Note and the Original New Money (Gap) Note, if any. (b) Documentation When documenting a Mortgage using an NY CEMA, the Seller must use the most current version of the New York Consolidation, Extension and Modification Agreement Single- Family Fannie Mae/Freddie Mac Uniform Instrument (Form 3172). The current version can be found on Freddie Mac’s website at https://sf.freddiemac.com/tools-learning/uniform- instruments/2021-updated-instruments. In addition, the Borrower must execute a Consolidated Note. (c) Delivery package for NY CEMA For a Mortgage originated using the NY CEMA, the Seller must deliver the complete NY CEMA delivery package listed below to its Document Custodian. The complete NY CEMA delivery package must include the following documents: (i) NY CEMA The original NY CEMA or a copy certified by the recorder’s office. (ii) NY CEMA exhibits Complete set of NY CEMA exhibits, as follows: ■ Exhibit A – A list, or a copy of a list, of the obligations being consolidated, modified and extended. All Notes, security instruments, assignments, consolidation agreements and related agreements that modify, consolidate or extend prior underlying obligations and which predate the current NY CEMA must be listed separately in Exhibit A. ■ Exhibit B – The property description of the Mortgaged Premises. A copy of Schedule A (Property Description) to the New York Mortgage may be used but should be marked as Exhibit B to identify it as an NY CEMA exhibit. ■ Exhibit C – A copy of the Consolidated Note (including any applicable addenda), with fixed-rate or adjustable-rate Note language inserted at the top of the first page. Freddie Mac Single-Family Seller/Servicer Guide Chapter 4101 As of 02/04/26 Page 4101-20 (The required language is stated in (iii) below.) Because this is a form document, Borrower signatures are not required. ■ Exhibit D – The most current version of the New York Single-Family Fannie Mae/Freddie Mac Uniform Security Instrument (Form 3033) with all blanks completed and any applicable riders attached. Because this is a form document, Borrower signatures are not required. (iii) The original Consolidated Note An original Note executed by the Borrower and endorsed in blank. The Consolidated Note must be the most current version of the applicable Single-Family Fannie Mae/Freddie Mac Uniform Note with all blanks completed and any applicable addendum or addenda. The Consolidated Note must have the following language, as applicable, inserted at the top of the document: ■ For Fixed-Rate Notes: Consolidated Note This Note amends and restates in their entirety, and is given in substitution for, the Notes described in Exhibit A of the New York Consolidation, Extension and Modification Agreement dated the same date as this Note. ■ For Adjustable-Rate Notes: Consolidated Adjustable-Rate Note This Note amends and restates in their entirety, and is given in substitution for, the Notes described in Exhibit A of the New York Consolidation, Extension and Modification Agreement dated the same date as this Note. (d) Mortgage file documentation With respect to Mortgages documented with the NY CEMA, Seller represents and warrants that the Mortgage file contains the documentation required by Sections 3301.2(b), 3302.1(b) and 3401.2(a). Freddie Mac Single-Family Seller/Servicer Guide Chapter 4201 As of 03/04/26 Page 4201-1 Chapter 4201: General Mortgage Eligibility

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