How to Sell Loans for Cash Servicing-Released
Increase your liquidity while selling your mortgage and servicing asset
Whether you're new to doing business with Freddie Mac or already selling loans to us for Cash Servicing-Released, you'll find the information you need to get started right on this Web page. Plus, access a variety of training resources to help you learn the process, get details on transferring your loan servicing, and more.
Get Started Selling Servicing-Released
Once you've been approved to use the Cash Servicing-Released execution, you'll need to complete a few essential steps, then you'll be ready to take advantage of this competitive execution for your cash sales. To get started:
- Go to Doing Single-Family Business with Freddie Mac
- Choose the Get Started Checklist, and select "servicing-released"
- Answer the questions provided and click “Generate Checklist“
- Complete the forms provided on the Get Started Checklist page and be sure to follow each form's individual return instructions
- Once you receive a confirmation e-mail, allow approximately three business days for your access to the selling system to be activated so that you can start selling loans through the Cash Servicing-Released execution
As part of our continuing efforts to promote responsible lending practices and manage our risks associated with loans sold through the Cash Servicing-Released execution, your ability to use this execution option may be withdrawn at our discretion for reasons that include:
- Failure to sell and deliver mortgages through the execution within six months from the date you receive approval to use this sale option
- Failure to maintain satisfactory financial condition
Servicing-Released Cash Sale Process
Refer to these resources for important details on the servicing-released cash sale process
- Loan Servicing Purchase and Sales Agreement (Exhibit 28A) – Review this document to understand your agreement with the servicers who will buy your loan servicing
Sell and Deliver Loans
Easily and conveniently sell your loans for cash through the selling system
- Available Mortgages – View Freddie Mac's Selling System Availability Matrix Cash Servicing-Released and Best Efforts
- Freddie Mac's Postsettlement Credit Fees in Price (Exhibit 19) – Review our matrix of loan-level price adjustments, including credit fees in price and/or credit fee in price credits based on certain loan attributes
Access these web-based training tools for step-by-step instructions on selling loans servicing-released
- Servicing-Released Sales Process (SRSP) Fundamentals – Learn how to successfully deliver servicing-released loans to Freddie Mac. These tutorials provide a flexible and thorough look at the SRSP using lessons, simulations and related online resources. Take one or all of the following modules:
- Servicing-Released Sales Process (SRSP) Overview (1 minute). Introduction to the SRSP training modules.
- SRSP – Taking Out a Contract (15 minutes) The SRSP process flow, steps in taking out an SRSP contract and the servicing-released fields in the Freddie Mac Selling System® Contract screen.
- SRSP – Loan Delivery (25 minutes) Loan Acquisition Scheduled Unpaid Balance (UPB), RESPA, delivering the Scheduled UPB and LPIDD, Other Funds Collected at Closing, Completing information in the Selling System, the Funding process and Funding Adjustments.
- SRSP – Freddie Mac Settlement (15 minutes) Accessing Settlement Statements, the fields in the Settlement Summary and Servicing-Released Proceeds Summary and exporting the Servicer-Assigned Loan Identifier.
- Selling System Introduction & Functionality – Get a basic understanding of how to use the selling system
- Cash Pricing – Learn how to get pricing for cash contracts
- Cash Contracting – Find out how to take out a cash contract
- AllRegs® (Single-Family Seller/Servicer Guide) – Go to AllRegs to view complete Guide requirements. Plus, see these key Guide chapters before taking out loan commitments:
- 5101 Introduction to Loan Prospector®
- 1301.1 Submission of data to Freddie Mac
- 1301.8 Warranties and Representations
- 6101.7 Requirements for the Servicing-Released Sales Process
- 3602.1 Repurchases Required by Freddie Mac
- Guide Forms – Directly access the forms required to sell for Cash Servicing-Released, when you need to make updates to these forms
- Guide Bulletins and Updates
- Quality Control Best Practices
- Selling System Resources
- Single-Family News Center
Contact Freddie Mac
Freddie Mac representatives are available to assist you Monday through Friday, 8:00 a.m. – 8:00 p.m. ET. Call 800 FREDDIE [800-373-3343] and select:
- "Underwriting" or "Loan Prospector®" to get assistance underwriting loans using Loan Prospector
- "Delivery" to receive selling system support
- "Delivery" to ask any questions about the setup process, including completing required forms
- "Password" to reset your selling system user ID and passcode