Form 1132A Submission Guidelines
Each month beginning in June 2019, Freddie Mac will draft - via ACH transaction - principal and interest payments and payoff proceeds directly from the Servicer’s designated P&I custodial account. To authorize Freddie Mac to draft these funds, Servicers must submit Form 1132A, Authorization for Automatic Transfer of Funds from a Principal and Interest Custodial Account Through ACH, to Freddie Mac.
Who should complete the form?
- Custodial accounts must always be designated in the Master Servicer’s name (as custodian and/or bailee). See section 8302.6 of the Guide for information about how to designate the account. The Master Servicer must complete and submit Form 1132A to Freddie Mac, even if the Servicing Agent is added as a signatory to the bank account.
- The employee must be an officer of the company and designated as an “authorized employee” on the Master Servicer’s Certificate of Incumbency form. See section 2201.1 of the Guide for information about the certificate of incumbency.
- Employees must be authorized to execute Form 1132A on the Servicer’s behalf.
How to complete the form. – New
- View the video on completing Form 1132A here.
- Review a sample Form 1132A for requested information. Part B of the form should be completed with the Seller/Servicer number. If there are multiple Seller/Servicer numbers using the same bank account information they may be included in one form submission.
- Form 1132A must be submitted to email@example.com.
To facilitate implementation of the Initiative, Freddie Mac has established a staggered submission schedule, based on the Servicer’s company name. To allow sufficient time to receive and process the forms, Servicers are requested to adhere to this schedule. If a Servicer cannot submit its Form 1132A during the assigned window it must ensure Freddie Mac has received its Form 1132A no later than February 28, 2019.
|Servicers with company names beginning with:||May execute and submit Form 1132A to Freddie Mac:|
|A number or letters A-C||July 1 - August 31, 2018|
|Letters D-G||August 1 - September 30, 2018|
|Letters H-N||September 1 - October 31, 2018|
|Letters O-S||November 1 - December 31, 2018|
|Letters T-Z||January 1 - February 28, 2019|
For More Information
- Read Guide Bulletin 2018-9 for additional details.