Freddie Mac Single-Family Seller/Servicer Guide Chapter 9601 — Deficiency Recovery

fhlmc-9601

Chapter 9601 of the Freddie Mac Single-Family Seller/Servicer Guide governs deficiency recovery and management: working with vendors to collect deficiencies, assigning deficiency rights after the foreclosure sale, and charging off the deficiency. NOTE: actual title is "Deficiency Recovery", not "Property Inspection/Preservation".

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source:
  type: regulation
  id: fhlmc-9601
  authority: Freddie Mac Single-Family Seller/Servicer Guide Chapter 9601 — Deficiency Recovery
  description: |
    Chapter 9601 of the Freddie Mac Single-Family Seller/Servicer Guide
    governs deficiency recovery and management: working with vendors to
    collect deficiencies, assigning deficiency rights after the
    foreclosure sale, and charging off the deficiency. NOTE: actual
    title is "Deficiency Recovery", not "Property Inspection/Preservation".
obligations:
  - id: fhlmc-9601-no-deficiency-assignment-to-mi-third-party
    canonical_id: fhlmc-9601-no-deficiency-assignment-to-mi-third-party
    section: Freddie Mac Guide Section 9601.1(b) — Assigning deficiency rights after the foreclosure sale
    description: |
      If the Mortgage has mortgage insurance and is not covered by any
      other credit enhancement, [LENDER] must not execute any assignment
      of the right to pursue a deficiency or assignment of a deficiency
      judgment to an MI or a third party; those documents must be sent
      directly to Freddie Mac.
    type: dont
    audit_question: Can [LENDER] evidence that, for every Freddie Mac-serviced Mortgage with mortgage insurance and no other credit enhancement, no assignment of the right to pursue a deficiency or of a deficiency judgment was executed to an MI or third party, and that such documents were sent directly to Freddie Mac?
    program_review: Does the program ensure that for an MI loan with no other credit enhancement, no assignment of the right to pursue a deficiency or of a deficiency judgment is executed to an MI/third party, and that such documents go directly to Freddie Mac?
    file_review: For MI-only post-sale files, confirm no deficiency-rights assignment to an MI/third party and that documents were sent to Freddie Mac.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: default_servicing_analyst
    secondary_owner_role: compliance_officer
    cadence: per-foreclosure-event
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fhlmc
      - freddie-mac
      - servicing-guide
      - deficiency-recovery
      - deficiency-assignment
      - promoted
    primary_source:
      tier: 1
      authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9601.1(b)
      source_class: fhlmc-guide
      source_url: https://guide.freddiemac.com/ci-guide
      snapshot_id: 5869ee9e606cd4ae
      fetched_at: '2026-05-23T00:27:40Z'
      content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
      paragraph_quote: the Servicer must not execute any assignment of the right to pursue a deficiency or
      drafter_attestation: Copied verbatim from Freddie Mac Guide snapshot 5869ee9e606cd4ae (Chapter 9601) at 2026-05-22.
    promoted_at: '2026-05-23T01:11:58+00:00'
    promoted_from: fhlmc-9601-roundb-v1.yaml
  - id: fhlmc-9601-review-draft-report-report-discrepancies
    canonical_id: fhlmc-9601-review-draft-report-report-discrepancies
    section: Freddie Mac Guide Section 9601.1(c) — Reviewing and reporting Draft Report discrepancies
    description: |
      [LENDER] must review the Draft Report and report any discrepancies
      between its records and the amount on the Draft Report to Freddie Mac
      via the Freddie Mac Servicing Data Corrections tool within 30 calendar
      days following Freddie Mac's posting of the amount to the Draft
      Report.
    type: do
    audit_question: Can [LENDER] evidence that, for every Draft Report posted by Freddie Mac with a charge-off amount, the report was reviewed and any discrepancies were reported via the Servicing Data Corrections tool within 30 calendar days?
    program_review: Does the program ensure each Freddie Mac Draft Report is reviewed and any record-vs-amount discrepancies are reported via the Servicing Data Corrections tool within 30 calendar days of posting?
    file_review: For posted Draft Reports, confirm review and any discrepancy reporting within 30 calendar days.
    judgment: false
    feeds:
      - fhlmc-9601-document-discrepancy-calculation-and-support
    workflow_phase: servicing
    owner_role: default_servicing_analyst
    secondary_owner_role: compliance_officer
    cadence: per-draft-report
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fhlmc
      - freddie-mac
      - servicing-guide
      - deficiency-recovery
      - charge-off
      - 30-day
      - discrepancy-reporting
      - promoted
    primary_source:
      tier: 1
      authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9601.1(c)
      source_class: fhlmc-guide
      source_url: https://guide.freddiemac.com/ci-guide
      snapshot_id: 5869ee9e606cd4ae
      fetched_at: '2026-05-23T00:27:40Z'
      content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
      paragraph_quote: The Servicer must review the Draft Report and report any discrepancies between its
      drafter_attestation: Copied verbatim from Freddie Mac Guide snapshot 5869ee9e606cd4ae (Chapter 9601) at 2026-05-22.
    promoted_at: '2026-05-23T01:11:58+00:00'
    promoted_from: fhlmc-9601-roundb-v1.yaml
  - id: fhlmc-9601-document-discrepancy-calculation-and-support
    canonical_id: fhlmc-9601-document-discrepancy-calculation-and-support
    section: Freddie Mac Guide Section 9601.1(c) — Discrepancy calculation and supporting documentation
    description: |
      When reporting a discrepancy on a Freddie Mac Draft Report, [LENDER]
      must input the calculation used to determine the variance and upload
      any documentation to support the request in the Servicing Data
      Corrections tool.
    type: do
    audit_question: Can [LENDER] evidence that, for every discrepancy it reported on a Freddie Mac Draft Report, the calculation supporting the variance and the supporting documentation were uploaded to the Servicing Data Corrections tool?
    program_review: Does the program ensure each reported Draft Report discrepancy includes the variance calculation and supporting documentation uploaded to the Servicing Data Corrections tool?
    file_review: For reported discrepancies, confirm the calculation and supporting documentation were uploaded.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: default_servicing_analyst
    secondary_owner_role: compliance_officer
    cadence: per-discrepancy-report
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fhlmc
      - freddie-mac
      - servicing-guide
      - deficiency-recovery
      - discrepancy-documentation
      - promoted
    primary_source:
      tier: 1
      authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9601.1(c)
      source_class: fhlmc-guide
      source_url: https://guide.freddiemac.com/ci-guide
      snapshot_id: 5869ee9e606cd4ae
      fetched_at: '2026-05-23T00:27:40Z'
      content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
      paragraph_quote: When reporting a discrepancy, Servicers must input the calculation used to determine the
      drafter_attestation: Copied verbatim from Freddie Mac Guide snapshot 5869ee9e606cd4ae (Chapter 9601) at 2026-05-22.
    promoted_at: '2026-05-23T01:11:58+00:00'
    promoted_from: fhlmc-9601-roundb-v1.yaml
_promotion_history:
  - promoted_at: '2026-05-23T01:11:58+00:00'
    candidate_path: obligations\_remediation\_round_b_drafts\fhlmc-9601-roundb-v1.yaml
    candidates_promoted: 3
    candidates_skipped_existing: 0

Verbatim regulatory text (3)

Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide Chapter 9601 — Deficiency Recovery — 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 Guide Section 9601.1(b) — Assigning deficiency rights after the foreclosure sale

the Servicer must not execute any assignment of the right to pursue a deficiency or

Source: Freddie Mac Single-Family Seller/Servicer Guide Section 9601.1(b) · source URL · snapshot 5869ee9e606cd4ae

Freddie Mac Guide Section 9601.1(c) — Reviewing and reporting Draft Report discrepancies

The Servicer must review the Draft Report and report any discrepancies between its

Source: Freddie Mac Single-Family Seller/Servicer Guide Section 9601.1(c) · source URL · snapshot 5869ee9e606cd4ae

Freddie Mac Guide Section 9601.1(c) — Discrepancy calculation and supporting documentation

When reporting a discrepancy, Servicers must input the calculation used to determine the

Source: Freddie Mac Single-Family Seller/Servicer Guide Section 9601.1(c) · source URL · snapshot 5869ee9e606cd4ae