Freddie Mac Single-Family Seller/Servicer Guide 6306.1 — Correspondent XChange®
Freddie Mac Single-Family Seller/Servicer Guide Section 6306.1 — Correspondent XChange®.
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 6306.1 — Correspondent XChange® — 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 6306.1 — Correspondent XChange®
This section contains the requirements related to: ■ Seller participation requirements for Correspondent XChange® ■ Transfer of data to aggregators for Operational Bifurcated Mortgages ■ Agreement and obligations under Correspondent Xchange The provisions of this chapter apply to Correspondent XChange, one of the executions available under Servicing-Released XChange®, Freddie Mac’s suite of executions that provides market liquidity for Servicing Contract Rights and helps Sellers easily transfer Servicing to an approved Servicer. (a) Seller participation requirements for Correspondent XChange Sellers must apply to Freddie Mac for approval and access to participate in Correspondent XChange as an Originator pursuant to the terms of Exhibit 29, Correspondent XChange® Operational Bifurcation Multi-Party Agreement. Sellers must call their Freddie Mac representative or Customer Service at 800-FREDDIE to inquire about the Correspondent XChange Originator approval process. Freddie Mac-approved Originators will be provided appropriate access to the execution option. (b) Transfer of data to aggregators for Operational Bifurcated Mortgages Under Correspondent XChange, Sellers that originate Freddie Mac-eligible Mortgages (“Originators” as defined in Exhibit 29) use Third Party Transaction Services functionality in Loan Selling Advisor® to transfer the data for their Mortgages to certain Freddie Macapproved aggregators with whom they have an agreement to sell these Originator Mortgages for cash. The aggregators are Freddie Mac Sellers approved to sell Operational Bifurcated Mortgages to Freddie Mac. (c) Agreement and obligations under Correspondent Xchange The Originator and the Seller each agree to be bound by the terms and conditions set forth in Exhibit 29, for each Operational Bifurcated Mortgage sold by the Originator to the Seller and then by the Seller to Freddie Mac under Correspondent XChange. For these Mortgages, the liability for “Origination and Sale Obligations” and “Servicing Obligations,” each of the obligations as described and defined in Exhibit 29, is allocated by Freddie Mac in accordance with the provisions of Sections 7101.3(c) through 7101.3(f) and Exhibit 29.
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Source of record: https://claudeforcompliance.com/regs/fhlmc-6306-1/
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