Warehouse Financing Arrangements
Effective September 10, 2018, Freddie Mac automated the warehouse lender release process through Loan Selling Advisor®. Warehouse lenders now release their interests in loans sold to Freddie Mac.
To access Loan Selling Advisor, warehouse lenders must complete, sign and deliver to Freddie Mac Form 900WHL, Loan Selling Advisor® Warehouse Lender Authorized User Identification Form, for Warehouse Lender employees who will have access to Loan Selling Advisor. Those persons authorized as 'Approvers' must be Authorized Employees on the Warehouse Lender's Form 990SF that has been accepted by Freddie Mac.
Watch our How to Complete Form 475 and Form 900WHL learning clip for help with this process.
Warehouse Lender Eligibility and Delivery Requirements
Certificate of Incumbency – Warehouse lenders must provide Freddie Mac with a certificate of incumbency on Form 990SF, Warehouse Provider Certificate of Incumbency: Corporation or Limited Liability Company Certificate, and, when applicable, Form 990ASF, Warehouse Provider Addendum to Certificate of Incumbency: Corporation or Limited Liability Company Certificate. Form 990SF requires as an attachment a copy of resolutions by the board of directors or other governing body, as applicable.
Freddie Mac requires Form 996/996E**, Warehouse Provider Release and Transfer , for mortgages subject to warehousing financing arrangements at the time of delivery to Freddie Mac for purchase. The Seller creates Form 996E, which the Warehouse Lender delivers through Loan Selling Advisor for each purchase contract with mortgages subject to warehouse financing arrangements – whether for cash or securities execution. Read More.
Form 987E**, Wire Transfer Authorization for Warehouse Delivery – For Cash executions, Sellers must submit this form for each warehouse lender they use and for any change to their wire transfer instructions. Read More.
For More Information
- View the Record and Release Pledged Mortgages for Freddie Mac tutorial, available 24/7.
- Refer to the Warehouse Lender Release and Transfer User Guide.
- Read Single-Family Seller/Servicer Guide Bulletin 2018-7 and Chapter 6305, Warehouse Financing Arrangements, for detailed requirements.
- Contact Customer Support, 800-FREDDIE, 8:00 a.m. – 8:00 p.m. ET, Monday through Friday, following the steps outlined below:
- Select "1" for Freddie Mac business partner
- Select "3" for Loan Delivery
- When prompted for a Seller/Servicer number, enter '555555' to indicate that you are a warehouse lender
- Be ready to provide your institution's federal tax ID number