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

fhlmc-4101-10

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

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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4101.10 — Advances — 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 4101.10 — Advances

Effective 2025-03-05 · Freddie Mac's stamp for this section

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. (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.

Source: Freddie Mac Single-Family Seller/Servicer Guide 4101.10 — Advances · source URL · snapshot 4c94f67729042dd6

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Source of record: https://claudeforcompliance.com/regs/fhlmc-4101-10/ · register fhlmc-4101-10 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.