Freddie Mac Single-Family Seller/Servicer Guide 4607.14 — Recourse for CHOICERenovation® Mortgages

fhlmc-4607-14

Freddie Mac Guide §4607.14 (Recourse for CHOICERenovation® Mortgages). Gap-fill (verbatim, ID-diff).

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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 4607.14 — Recourse for CHOICERenovation® 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 4607.14 — Recourse for CHOICERenovation® Mortgages

Effective 2025-12-03 · Freddie Mac's stamp for this section

CHOICERenovation® In Progress Mortgages must be sold with recourse within the meaning of Section 6201.2(b)(i), except that Freddie Mac may require the Seller to repurchase the CHOICERenovation Mortgage if the Mortgage becomes 120 days delinquent while subject to recourse. The recourse will remain in full force and effect until: ■ All renovations are completed, ■ The Seller requests removal of recourse in writing indicating the applicable Freddie Mac loan number and provides the completion report, including photographs of the renovations, and ■ Freddie Mac approves the removal of recourse, subject to the requirements below In order to request removal of recourse the Seller must submit all required documentation mentioned above to Freddie Mac through Loan Status Hub®, and the following requirements must be met: ■ There is no Delinquency at the time of the request ■ There has not been a Delinquency of 30 days more than once during the renovation period, except that recourse may be removed at a later date once the Borrower has made 36 consecutive monthly payments with no Delinquencies The Seller represents and warrants that, as of the date Freddie Mac approves the Seller’s request for removal of recourse, all requirements in this Chapter 4607 have been met.

Source: Freddie Mac Single-Family Seller/Servicer Guide 4607.14 — Recourse for CHOICERenovation® Mortgages · source URL · snapshot 4c94f67729042dd6

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Source of record: https://claudeforcompliance.com/regs/fhlmc-4607-14/ · register fhlmc-4607-14 · 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.