Freddie Mac Single-Family Seller/Servicer Guide 4204.4 — Shared equity plans
Freddie Mac Single-Family Seller/Servicer Guide Section 4204.4 — Shared equity plans.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4204.4 — Shared equity plans — 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 4204.4 — Shared equity plans
Freddie Mac does not approve individual shared equity plans; Freddie Mac will, however, consider purchasing Mortgages subject to individual shared equity plans if all of the following requirements are met: ■ The Seller must obtain a Mortgage application, financial statements and credit reports for both the Owner-Occupant and the owner-investor ■ All requirements in the Seller’s Purchase Documents must be satisfied ■ The shared equity plan must be a written agreement and the Seller must retain a copy in the Mortgage file The Seller warrants the following: ■ The Owner-Occupant made a Down Payment of at least 5% from Borrower personal funds as described in Section 5501.3(k) ■ The owner-investor made an additional Down Payment of at least 5% ■ Both the Owner-Occupant and the owner-investor signed the Note and Security Instrument ■ Both the Owner-Occupant and the owner-investor are individuals (i.e., not corporations, limited partnerships, partnerships or trusts) ■ No agreement requiring the sale of the property or the buyout of either owner’s interest may be in effect during the first seven years after the Note Date ■ Neither the property seller nor any other interested party to the transaction (such as a builder, a real estate broker or a real estate agent) is a party to the shared equity plan ■ The Seller/Servicer is able to service the Mortgage according to the requirements of the Guide
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Source of record: https://claudeforcompliance.com/regs/fhlmc-4204-4/
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