Freddie Mac Single-Family Seller/Servicer Guide 9102.2 — Late charges

fhlmc-9102-2

Freddie Mac Single-Family Seller/Servicer Guide Section 9102.2 — Late charges.

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Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 9102.2 — Late charges — 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 9102.2 — Late charges

Effective 2025-08-13 · Freddie Mac's stamp for this section

This section contains requirements related to: ■ Late charge assessment ■ Late charge collection (a) Late charge assessment The Servicer must not assess a late charge in an amount greater than 5% of the principal and interest payment. On an FHA or VA Mortgage, a late charge may be assessed and collected in accordance with the applicable program terms. The Servicer is responsible for collecting from the Borrower any recording or similar costs incidental to the granting of relief. The Servicer may not impose a late charge if the Mortgage is a Home Mortgage and the installment is received within 15 days after the Due Date. If this date is a Saturday, Sunday or federal holiday, it is extended to the next Business Day. The Servicer may retain any late charge collected as additional Servicing compensation if the charge is allowed under the Note. (b) Late charge collection Regardless of any provision to the contrary in the Note or the Security Instrument, the Servicer may not collect a late charge by any of the following methods: ■ Charging the Borrower’s Escrow or impound account ■ Deducting from a regular monthly installment ■ Deducting from a payment made to partially or fully cure a Delinquency ■ Adding to the outstanding principal balance of the Mortgage ■ Causing a Mortgage to become delinquent or be placed in foreclosure because of an unpaid late charge Note: For payment application requirements, refer to Sections 8103.3(a) through 8103.3(d).

Source: Freddie Mac Single-Family Seller/Servicer Guide 9102.2 — Late charges · source URL · snapshot 4c94f67729042dd6

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Source of record: https://claudeforcompliance.com/regs/fhlmc-9102-2/ · register fhlmc-9102-2 · 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.