Freddie Mac Single-Family Seller/Servicer Guide 5601.7 — Seller verification of subject property Owner of Record
Freddie Mac Single-Family Seller/Servicer Guide section 5601.7 — Seller verification of subject property Owner of Record. Full verbatim section text, substring-verified against snapshot 5869ee9e606cd4ae.
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 5601.7 — Seller verification of subject property Owner of Record — 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 5601.7 — Seller verification of subject property Owner of Record
This section contains requirements related to: ■ Verifying the Owner of Record ■ Investigating and documenting Owner of Record discrepancies (a) Verifying the Owner of Record The Seller must verify the information outlined in the table below: Owner of Record verification by transaction type Transaction type The Seller must verify: Purchase ■ The property seller listed on the sales contract is the Owner of Record of the subject property; or ■ If the transaction involves the sale of land separate from the dwelling, the property seller listed on the sales contract for the land is the Owner of Record for the land Refinance The Borrower is an Owner of Record of the subject property. Payoff of a land contract ■ The property seller is the vendor on the recorded land contract and the Owner of Record of the subject property; and ■ The Borrower is a vendee on the recorded land contract (b) Investigating and documenting Owner of Record discrepancies If the property seller for purchase transactions or the Borrower for refinance transactions is not the Owner of Record, the Seller must investigate the circumstances of the transaction to ensure the transaction is legitimate. If the Seller determines the transaction is legitimate, the Seller must retain in the Mortgage file documentation evidencing the verification or legitimacy of the transaction, which may include: ■ The appraiser’s analysis and conclusions in the appraisal report ■ A property sales history report ■ A copy of the recorded deed ■ A copy of a property tax bill ■ A copy of property title information indicating legal ownership of the property (e.g., title property report summary, title commitment or binder, attorney opinion of title letter)
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Source of record: https://claudeforcompliance.com/regs/fhlmc-5601-7/
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