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Learn More About the Selling System Enhancements


Expanded Mortgage Product Capabilities

We've expanded our mortgage products capabilities, available in the selling system, to easily meet the needs of a more diverse borrower base. With our latest selling system enhancements you'll find more ways to sell us a wide-range of mortgages with prepayment penalties, HUD-Guaranteed Section 184 Native American Mortgages, and assumable Section 502 Rural Housing Service Guaranteed Rural Housing (GRH) Mortgages. With this capability, you can now sell these mortgages through the selling system instead of MIDANET, streamlining your processes through one delivery system.

More Competitive Sale Options with New Affordable Lending Mortgage Capabilities

To make it even easier for you to sell your affordable lending business, we've expanded the affordable lending products available for sale through the selling system. You can now sell the following products under the Fixed-rate Cash, Fixed-rate Guarantor, and MultiLender Swap sale executions through the selling system:

  • 30-year assumable RHS Section 502 GRH Mortgages
  • 15-, 20- and 30-year fixed-rate HUD-Guaranteed Section 184 Native American Mortgages

In addition, you have the ability to use the selling system to sell HUD-Guaranteed Section 184 Native American Mortgages using a non-individual borrower. When delivering these mortgages using a non-individual borrower in the selling system, you need to select the appropriate Gender Code for the non-individual borrower on Form 11:

  • Gender Code 4: 'N/A – Non-Individual'
  • Gender Code 8: 'NA – Native Am Tribe/Org'

These new capabilities eliminate the need for you to sell these types of mortgages through MIDANET. Please note, that in order to sell 30-year assumable RHS Section 502 GRH Mortgages and HUD-Guaranteed Section 184 Native American Mortgages to Freddie Mac, you must have approval. Please continue to follow existing guidelines to be approved for these mortgages.

New Ability to Sell Prepayment Penalty Mortgages Under the Guarantor Execution through the selling system

You can now use the selling system to sell fully amortizing 15-, 20- and 30-year Prepayment Penalty Mortgages (20-year fixed-rate Prepayment Penalty Mortgages must be pooled with 30-year Prepayment Penalty Mortgages) under our Fixed-rate Guarantor execution, eliminating the need to deliver these types of mortgages through MIDANET. In order to deliver Prepayment Penalty Mortgages in the selling system, you’ll need to provide Special Characteristics Code 113.

In addition, you now have the ability to sell certain ARMs eligible for sale through the selling system's WAC ARM Guarantor execution as Prepayment Penalty Mortgages.  With this change, you no longer need to negotiate special terms to sell us these types of mortgages and you're able to commingle ARMs with different prepayment penalty periods and prepayment penalties in the same pool.

*With this release we also incorporated a name change for these mortgages, which are currently referenced in marketing and other materials as Prepayment Protection Mortgages.

Learn More About Our Selling System Enhancements


© 2008 Freddie Mac