6301.8: Completion of delivery (09/10/18)

© Freddie Mac Single-Family Seller Servicer Guide

Settlement cannot occur until delivery is complete. Delivery is complete upon:

The delivery to, and acceptance by, Freddie Mac of all loan data and other information and documentation required by the Purchase Documents. When a Seller/Servicer registers a Mortgage on the MERS® System, the Seller/Servicer must, in addition to any requirements set forth in the MERS Governing Documents, register such Mortgages with MERS prior to loan delivery to Freddie Mac, and must supply the MIN for Mortgages registered with MERS at the time of delivery. The Seller/Servicer must indicate the MIN on the Security Instrument and related documents, regardless of whether the Seller/Servicer retains the documents or sends them to the Document Custodian.For further information on MERS, refer to Exhibit 5, Authorized Changes to Notes, Riders, Security Instruments and the Uniform Residential Loan Application.
The delivery of the Notes and all other required documentation to, and certification of the Notes by, the Document Custodian. The Seller/Servicer must provide the Document Custodian with sufficient information so that if there is a Subsequent Transfer of Servicing, the Transferor Servicer and Freddie Mac can determine whether a Mortgage that is included in such Subsequent Transfer of Servicing is registered with MERS at the time of the transfer, as required by Section 7101.9.

Prior to certification, the Seller must identify and track the Notes and other loan documents on its system as Mortgages to be sold to Freddie Mac. In addition, Freddie Mac may require that, at the Seller's expense, the Freddie Mac loan number be affixed to the face of each Note.

In the event the Seller does not complete its Guarantor or MultiLender Swap delivery by 8:00 PM Eastern Time on the day immediately preceding the scheduled Settlement Date, Freddie Mac has the right, in its sole discretion, to cancel or postpone the settlement or funding until delivery has been completed. For information regarding pair-off of Cash contracts, refer to Section 6401.1.

The Seller indemnifies and holds Freddie Mac, its directors, officers, employees, successors, assigns and fiscal and transfer agents, harmless from and against any and all losses, damages, claims, demands, actions, suits or liabilities, joint or several, to which Freddie Mac may become subject, and shall reimburse Freddie Mac for any legal or other expenses reasonably incurred by Freddie Mac in connection with any losses, damages, claims, demands, suits, liabilities or actions with respect to Freddie Mac's cancelation or postponement of any settlement or funding insofar as such losses, claims, damages, demands, suits, liabilities or actions arise out of or are based upon Freddie Mac's cancelation or postponement of a settlement or funding.

(a) Delivery and certification

The requirements of Sections 2202.2 and 2202.3 must be met, in addition to the following requirements:

The Document Custodian must have received and certified, as required by Sections 6304.2 and 6304.3, the following:

Form 1034E, Custodial Certification Schedule, or the "Note Delivery Cover Sheet." Form 1034E and the Note Delivery Cover Sheet are available only through Loan Selling Advisor®. The Seller is not required to maintain a copy of the Form 1034E or the Note Delivery Cover Sheet.
For each Mortgage, the original Note, endorsed as required by Section 6301.3, along with the originals of any addenda or other modifying instruments to the Note. (NOTE: The Notes for Mortgages sold through Cash-Released XChangeSM must be delivered to The Bank of New York Mellon Trust Company, N.A. as the Designated Custodian for Mortgages purchased under that process. See Section 6101.7 for additional information.)
Any documentation, if applicable, indicating that the Mortgages were closed with MERS as original mortgagee of record
The original assignments of the Security Instruments, prepared and completed as required by Section 6301.6, unless the Mortgages are registered with MERS and the Seller/Servicer has elected to retain all required assignments in the Mortgage filesThe Seller/Servicer must supply its Document Custodian with any documentation necessary for the Document Custodian to determine if it should expect to receive assignments for MERS-registered Mortgages.If a recorder's office has not yet returned a recorded Intervening Assignment to the Seller/Servicer, the Seller/Servicer must deliver a certified copy of the assignment sent for recordation to the Document Custodian.The original recorded assignment must be delivered to the Document Custodian immediately after the Seller/Servicer receives it from the recorder's office. If a jurisdiction does not accept assignments for recordation, the Seller/Servicer must so indicate in an affidavit delivered to the Document Custodian with the unrecorded Intervening Assignment.
The following documents, if applicable:

The original Freddie Mac Multistate Agreement to Convert, Form 3180
The original assumption agreement
The original addendum
The original or a copy of the power of attorney, if original is sent for recordation
The original, or a certified copy if the original is sent for recordation, of the Multistate Loan Modification Agreement (to a Fixed Interest Rate), Form 5161, or comparable modification agreement that complies with the Guide
The original or a certified copy of Form 3172, New York Consolidation, Extension and Modification Agreement (NY CEMA), if original was sent for recordation. See Section 4101.5 for additional documentation delivery requirements for Mortgages originated using a NY CEMA.
For a Construction Conversion Mortgage or a Renovation Mortgage that uses Modification Construction Conversion Documentation, the original, or a certified copy if the original is sent for recordation, of the Construction Conversion Modification Agreement

Any other documentation that Freddie Mac, at its discretion, may require

Freddie Mac's Mortgage Purchase Department (see Directory 8) must receive the following by the Delivery Date:

For Pledged Mortgages: the forms required by Sections 6305.3, 6305.4 and 6305.5
Any other documentation that Freddie Mac, at its discretion, may require

Freddie Mac (see Directory 9) must have received any other documentation that Freddie Mac, at its discretion, may require

(b) Additional Seller, Servicer, and Document Custodian ResponsibilitiesPrior to or immediately after settlement, the Seller must enter the Freddie Mac loan numbers assigned to the Mortgages into the Seller's system and associate such numbers with the Mortgages so that Seller can identify, track and service the Mortgages for Freddie Mac. If Servicing is concurrently transferred, the Transferee Servicer must enter the Freddie Mac loan numbers assigned to the Mortgages by Freddie Mac into the Transferee Servicer's computerized servicing system and associate such numbers with the Mortgages so that the Transferee Servicer may identify, track and service the Mortgages for Freddie Mac.For all Mortgages, the Seller, Servicer, and Document Custodian must comply with all requirements in the Guide and other Purchase Documents.The Seller, Servicer, Document Custodian, and/or their successors, assigns and transferees, as applicable, are fully responsible, on an ongoing basis, for the proper delivery, certification, identification and tracking of all Notes for Mortgages sold to Freddie Mac.