Freddie Mac Single-Family Seller/Servicer Guide 7101.6 — Transfer of funds in Transfers of Servicing
Freddie Mac Guide §7101.6 (Transfer of funds in Transfers of Servicing). Gap-fill (verbatim, ID-diff).
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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 7101.6 — Transfer of funds in Transfers of Servicing — 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 7101.6 — Transfer of funds in Transfers of Servicing
This section contains requirements related to: ■ Transfer of funds ■ Funds and correspondence received after Transfers of Servicing (a) Transfer of funds (i) General requirement for transfer of funds The Transferor Servicer must transfer all account balances (including, but not limited to, Escrows, prepayments and buydown funds) to the Transferee Servicer’s depository in a manner that ensures such funds are at all times held in a custodial capacity on behalf of Freddie Mac in accordance with Section 8302.1(c). A final reconciliation of all monies relating to such transfer must be made by the Transferor Servicer on the Effective Date of Transfer. (ii) Escrow accounts The Transferor Servicer must forward the entire balance of all Custodial Accounts related to Escrows, buydown funds, repair accounts and replacement reserves (net of documented advances) to the Transferee Servicer’s depository on the Effective Date of Transfer. (iii) Delinquent interest Delinquent interest advanced to Freddie Mac by the Transferor Servicer as of the Effective Date of Transfer net of prepaid interest must be reimbursed to the Transferor Servicer by the Transferee Servicer no later than the date the funds are due to Freddie Mac. (iv) Delinquent principal Delinquent principal advanced to Freddie Mac by the Transferor Servicer as of the Effective Date of Transfer net of prepaid principal must be reimbursed to the Transferor Servicer by the Transferee Servicer no later than the Effective Date of Transfer. (b) Funds and correspondence received after Transfers of Servicing Within one Business Day of receipt, the Transferor Servicer must deliver to the Transferee Servicer any funds for or correspondence regarding any of the transferred Mortgages and REO related to the Transfer of Servicing if such funds or correspondence is received on or after the Effective Date of Transfer.
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Source of record: https://claudeforcompliance.com/regs/fhlmc-7101-6/
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