© Freddie Mac Single-Family Seller Servicer Guide
(a) General requirements
Secondary financing is all financing that is subordinate in lien priority to the First Lien Mortgage. Freddie Mac will purchase First Lien Mortgages with secondary financing under the terms of the Purchase Documents and this section. Terms of any secondary financing must be disclosed to the appraiser and to the MI. The terms of the secondary financing that must be disclosed include, but are not limited to, the Note Rate and the institution or individual providing the financing. The Seller may not indicate a value needed to support the transaction, or provide any information to the appraiser about an expected loan-to-value (LTV) ratio.Except as specifically stated in Section in Section 4204.2 with 2 with respect to Affordable Seconds®, the terms of secondary financing must not permit the provider or another party to share in the appreciation of the Mortgaged Premises (equity sharing).Secondary financing is not eligible for sale to Freddie Mac.For special requirements for Affordable Seconds, see Section see Section 4204.2.
(b) Special requirements for new secondary financingSecondary financing originated concurrently with the First Lien Mortgage (i.e., the First Lien Mortgage and the junior lien are originated on the same day) must meet the following requirements:
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(d) Credit Fees in Price and other delivery instructions for Mortgages with secondary financing
A special Credit Fee in Price will be assessed and billed to the Seller in conjunction with the sale of certain Mortgages with secondary financing. The Seller must refer to Exhibit to Exhibit 19, Credit Fees in Price, for information on the Secondary Financing Credit Fee in Price and other Credit Fees in Price. Credit Fees in Price are paid in accordance with the Credit Fee in Price provisions outlined in Chapter in Chapter 6303.See Section
See Section 6302.34 for 34 for delivery instructions for Mortgages with secondary financing.The Secondary Financing Credit Fee in Price will not be assessed on a Mortgage with an Affordable Second. Affordable Seconds are described in Section in Section 4204.2.Additional Resource: https://www.allregs.com/tpl/Viewform.aspx?formid=00051759&formtype=agency#page=52