Freddie Mac Selling Representation and Warranty Relief Information
On August 12, Freddie Mac released an update titled Information about the New Selling Representation and Warranty Relief Date Report.
Information about the New Selling Representation and Warranty Relief Date Report
In Single-Family Seller/Servicer Guide (Guide) Bulletin 2014-8 [pdf], we committed to providing our customers with written notification of mortgages sold to us that have met the requirements for representation and warranty relief under the selling representation and warranty framework.
Report Available by Mid-September
If you have mortgages that obtained selling representation and warranty relief between February and July 2014, your organization will receive a Selling Representation and Warranty Relief Date Report by mid-September.
Following this initial report, your organization will receive reports monthly if you have mortgages that obtain selling representation and warranty relief.
Freddie Mac will distribute this report until early 2015 when customers will have access to the online tool we’re developing that tracks representation and warranty obligations for loans we purchase. At that time you will be able to pull the report at your convenience.
Report Format and Distribution
Until the tool becomes available, the report will:
- Be emailed as a PDF to key contacts in your organization.
- Only be generated when you have mortgages that meet the eligibility requirements described in Guide Section 6.14.
- Show the selling representation and warranty relief data from two months prior to when the report is generated. For example, the report provided in October will reflect the mortgages that obtained relief in August.
Sharing the Selling Representation and Warranty Relief Date Report with you supports our commitment to create more transparency in our business transactions.
For More Information
For details on representation and warranty framework eligibility requirements:
- Review Guide Section 6.14.
- Review Guide Bulletin 2014-8 [pdf].
- See our side-by-side comparison of Version 1 and Version 2 requirements.
- Visit our Freddie Mac Representation and Warranty Framework Web page.
- Contact your Freddie Mac representative.
Please click here to view the online update.
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