Freddie Mac Single-Family Seller/Servicer Guide 4402.4 — Special requirements for Seller-Owned Modified Mortgages
Freddie Mac Single-Family Seller/Servicer Guide section 4402.4 — Special requirements for Seller-Owned Modified Mortgages. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4402.4 — Special requirements for Seller-Owned Modified 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 4402.4 — Special requirements for Seller-Owned Modified Mortgages
This section contains information related to: ■ Overview ■ Ineligible Mortgages ■ Special requirements ■ Delivery requirements (a) Overview Unless specifically made applicable to Seller-Owned Modified Mortgages, negotiated underwriting provisions in the Seller’s Purchase Documents do not apply to Seller-Owned Modified Mortgages and cannot be used with Seller-Owned Modified Mortgages. (b) Ineligible Mortgages A Seller-Owned Modified Mortgage may not have been originated as: ■ A Mortgage using an Automated Valuation Model (AVM) ■ A HomeOne® Mortgage ■ A Community Land Trust Mortgage ■ A HeritageOne® Mortgage ■ A Mortgage secured by a property subject to income-based resale restrictions that terminate upon foreclosure (or expiration of any applicable legally required foreclosure redemption period) or recordation of a deed-in-lieu of foreclosure where the property value must be determined in accordance with Section 4406.4(c) (c) Special requirements The Mortgage must only be modified for the purpose of a reduction in the interest rate. (d) Delivery requirements See Section 6302.27 for delivery and pooling requirements for Seller-Owned Modified Mortgages.
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Source of record: https://claudeforcompliance.com/regs/fhlmc-4402-4/
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