Freddie Mac Single-Family Seller/Servicer Guide 4301.2 — Borrower requirements for refinance Mortgages
Freddie Mac Single-Family Seller/Servicer Guide section 4301.2 — Borrower requirements for refinance Mortgages. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4301.2 — Borrower requirements for refinance Mortgages — 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 4301.2 — Borrower requirements for refinance Mortgages
When an existing Mortgage will be satisfied through a refinance transaction, at least one Borrower on the refinance Mortgage must be a Borrower on the Mortgage being refinanced as documented in the Mortgage file. Exceptions: When no Borrower on the refinance Mortgage is a Borrower on the Mortgage being refinanced, one of the following must apply and be documented in the Mortgage file: ■ At least one Borrower on the refinance Mortgage held title to and resided in the Mortgaged Premises as a Primary Residence and has been making timely Mortgage payments, including the payments for any secondary financing, for the most recent 12-month period ■ At least one Borrower on the refinance Mortgage inherited or was legally awarded the Mortgaged Premises in accordance with a final judgment or decision from a legal body (e.g., court, jury, judge or arbitrator) such as in a case of divorce, separation or dissolution of a domestic partnership Note: A Living Trust may be made irrevocable by a Settlor’s death. To be an eligible Borrower at the time of the refinance transaction, the Borrower must continue to be a Living Trust that meets Freddie Mac’s revocability and, as applicable, other eligibility requirements.
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Source of record: https://claudeforcompliance.com/regs/fhlmc-4301-2/
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