source:
  type: regulation
  id: fhlmc-8801.3
  authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
    (09/10/25)
  description: "Freddie Mac Guide §8801.3 (Loss mitigation for Cooperative Share Loans). Gap-fill (verbatim, ID-diff).\
    \ \n"
obligations:
- id: fhlmc-8801.3-0
  canonical_id: fhlmc-8801.3-0
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: (09/10/25) This section contains requirements
    related to: ■ Assumptions and workout loan assumptions of Cooperative Share Loans ■ Loan modifications of Cooperative
    Share Loans ■ Short sales of Cooperative Share Loans ■ Deeds-in-lieu of foreclosure of Cooperative Share Loans
    ■ Cha…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '(09/10/25) This section contains requirements related to: ■ Assumptions and workout loan assumptions
      of Cooperative Share Loans ■ Loan modifications of Cooperative Share Loans ■ Short sales of Cooperative Share
      Loans ■ Deeds-in-lieu of foreclosure of Cooperative Share Loans ■ Charge-offs of Cooperative Share Loans (a)
      Assumptions and workout loan assumptions of Cooperative Share Loans In the event an assumption or workout
      loan assumption (with or without a release of liability) of a Cooperative Share Loan is approved, then, in
      addition to the approval of the application for transfers of ownership requirements listed in Section 8406.2(c)
      and the approval conditions for a workout assumption in Section 9207.1(f), as applicable, the Servicer must:
      ■ Obtain the consent of the Cooperative Corporation, if such consent is required by the Proprietary Lease,
      and obtain a new stock certificate, if applicable'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-1
  canonical_id: fhlmc-8801.3-1
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: 801-8 ■ Ensure the transferee acquires the transferor’s
    ownership interest in the Cooperative Corporation (e.g., evidenced in a stock certificate) and either obtains
    a new Proprietary Lease or assumes the existing Proprietary Lease; and ■ If applicable, timely file a UCC-1
    Financ…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '801-8 ■ Ensure the transferee acquires the transferor’s ownership interest in the Cooperative
      Corporation (e.g., evidenced in a stock certificate) and either obtains a new Proprietary Lease or assumes
      the existing Proprietary Lease; and ■ If applicable, timely file a UCC-1 Financing Statement naming the transferee
      that became the debtor (b) Loan modifications of Cooperative Share Loans When evaluating a Cooperative Share
      Loan Borrower for a loan modification under a Freddie Mac loan modification program, in addition to the modification
      requirements in Chapter 9206 and other loan modification requirements under the Purchase Documents, as applicable,
      the following requirements must be met: ■ The Servicer must ensure that the term of the Proprietary Lease
      must not terminate earlier than the maturity date of the proposed modified Cooperative Share Loan. If the
      current term of the Proprietary Lease terminates earlier than the maturity date of the proposed Cooperative
      Share Loan, then the term of the Proprietary Lease must be renegotiated to satisfy this requirement ■ For
      purposes of calculating the housing expense-to-income ratio(s), as applicable, the Servicer must make reasonable
      efforts to obtain written documentation verifying the monthly amounts of Cooperative Corporation assessments
      and Cooperative Unit Maintenance Fees ■ Consistent with the requirements in Section 9206.3(b), any delinquent
      Cooperative Share Loan expenses that may become First Liens on the property pursuant to Section 8801.2(c)
      may be capitalized, provided that such capitalization is not prohibited by applicable law Note: See also Section
      8801.1(f) regarding certain Servicer warranties required in the event of a loan modification. (c) Short sales
      of Cooperative Share Loans When evaluating a Cooperative Share Loan Borrower for a Freddie Mac Standard Short
      Sale (“short sale”), in addition to the short sale requirements in Chapter 9208, the following requirements
      must be met: ■ For purposes of calculating the housing expense-to-income ratio, if applicable, the Servicer
      must make reasonable efforts to obtain written documentation verifying the monthly amounts of Cooperative
      Corporation assessments and Cooperative Unit Maintenance Fees ■ If the Servicer is considering a Cooperative
      Share Loan Borrower for a short sale, then the Servicer is not delegated to approve the short sale, and the
      file must be sent to'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-2
  canonical_id: fhlmc-8801.3-2
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: 801-9 Freddie Mac. Pursuant to Section 9208.1(b),
    the Servicer must submit a short sale exception review in Resolve® with the following additional documentation:
    ❑ A detailed explanation of the Servicer’s recommendation and rationale for its recommendation documented in
    the comme…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '801-9 Freddie Mac. Pursuant to Section 9208.1(b), the Servicer must submit a short sale exception
      review in Resolve® with the following additional documentation: ❑ A detailed explanation of the Servicer’s
      recommendation and rationale for its recommendation documented in the comments section of Resolve. (Note:
      The Servicer must identify that the recommendation pertains to a Cooperative Share Loan.) ❑ The monthly amounts
      of Cooperative Corporation assessments and Cooperative Unit Maintenance Fees, as well as the total amounts
      of any delinquent Cooperative Share Loan expenses that may become First Liens on the property pursuant to
      Section 8801.2(c) In the event a short sale is approved, then, in addition to the requirements listed in Section
      9208.3(a), the Servicer must: ■ Obtain the consent of the Cooperative Corporation, if such consent is required
      by the Proprietary Lease ■ Ensure the buyer acquires an ownership interest in the Cooperative Corporation
      (e.g., evidenced in a new stock certificate) and obtain either the assignment of the Proprietary Lease or
      a new Proprietary Lease ■ If applicable, timely file a termination statement for the UCC-1 Financing Statements;
      and ■ Unless otherwise instructed by Freddie Mac, pay, prior to and outside of the transaction, any delinquent
      Cooperative Share Loan expenses that may become First Liens on the property pursuant to Section 8801.2(c)
      (d) Deeds-in-lieu of foreclosure of Cooperative Share Loans When evaluating a Cooperative Share Loan Borrower
      for a Freddie Mac Standard Deed-in- Lieu of Foreclosure (“deed-in-lieu of foreclosure”), in addition to the
      deed-in-lieu of foreclosure requirements in Chapter 9209, the following requirements must be met: ■ For purposes
      of calculating the housing expense-to-income ratio, if applicable, the Servicer must make reasonable efforts
      to obtain written documentation verifying the monthly amounts of Cooperative Corporation assessments and Cooperative
      Unit Maintenance Fees ■ If the Servicer is considering a Cooperative Share Loan Borrower for a deed-in-lieu
      of foreclosure, then the Servicer is not delegated to approve the deed-in-lieu of foreclosure, and the file
      must be sent to Freddie Mac. Pursuant to Section 9209.1, the Servicer must submit a deed-in-lieu of foreclosure
      exception review through Resolve with the following additional documentation:'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-3
  canonical_id: fhlmc-8801.3-3
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: 801-10 ❑ A detailed explanation of the Servicer’s
    recommendation and rationale for its recommendation documented in the comments section of Resolve. (Note: The
    Servicer must identify that the recommendation pertains to a Cooperative Share Loan.) ❑ The monthly amounts
    of Cooperati…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '801-10 ❑ A detailed explanation of the Servicer’s recommendation and rationale for its recommendation
      documented in the comments section of Resolve. (Note: The Servicer must identify that the recommendation pertains
      to a Cooperative Share Loan.) ❑ The monthly amounts of Cooperative Corporation assessments and Cooperative
      Unit Maintenance Fees, as well as the total amounts of any delinquent Cooperative Share Loan expenses that
      may become First Liens on the property pursuant to Section 8801.2(c) In the event a deed-in-lieu of foreclosure
      is approved, then, in addition to the requirements listed in Section 9209.6, the Servicer must: ■ Obtain the
      consent of the Cooperative Corporation, if such consent is required by the Proprietary Lease, and obtain a
      new stock certificate ■ Ensure an ownership interest in the Cooperative Corporation is acquired (e.g., evidenced
      in a new stock certificate) and obtain either the assignment of the Proprietary Lease or a new Proprietary
      Lease ■ If applicable, timely file a termination statement for the UCC-1 Financing Statements; and ■ Unless
      otherwise instructed by Freddie Mac, pay any delinquent Cooperative Share Loan expenses that may become First
      Liens on the property pursuant to Section 8801.2(c) (e) Charge-offs of Cooperative Share Loans In the event
      a charge-off of a Cooperative Share Loan is approved, then, in addition to the requirements listed in Section
      9210.2, the Servicer must, if applicable, timely file a termination statement for the UCC-1 Financing Statements.
      Note: See also Section 9210.1(b) regarding when a Servicer must recommend a charge-off of a Cooperative Share
      Loan to Freddie Mac.'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-4
  canonical_id: fhlmc-8801.3-4
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: Delinquency management for Cooperative Share
    Loans (04/08/26) This section contains requirements related to: ■ Preforeclosure referral account review ■ Foreclosure
    of a Cooperative Share Loan'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: 'Delinquency management for Cooperative Share Loans (04/08/26) This section contains requirements
      related to: ■ Preforeclosure referral account review ■ Foreclosure of a Cooperative Share Loan'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-5
  canonical_id: fhlmc-8801.3-5
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: 801-11 ■ Foreclosure attorney fee ■ Post-foreclosure/REO
    (a) Preforeclosure referral account review In addition to the requirements in Section 9301.2(a) regarding the
    preforeclosure referral account review, the Servicer must seek Freddie Mac’s approval (Foreclosures@FreddieMac.co…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '801-11 ■ Foreclosure attorney fee ■ Post-foreclosure/REO (a) Preforeclosure referral account
      review In addition to the requirements in Section 9301.2(a) regarding the preforeclosure referral account
      review, the Servicer must seek Freddie Mac’s approval (Foreclosures@FreddieMac.com) to refer a Cooperative
      Share Loan to foreclosure if: ■ The Servicer becomes aware of or has reason to believe that proceeding with
      foreclosure on the Cooperative Share Loan is not in Freddie Mac’s best interest; and/or ■ A charge off would
      produce a lesser estimated loss severity, as opposed to proceeding with foreclosure on the Cooperative Share
      Loan If directed by Freddie Mac, the Servicer must submit a recommendation for a charge-off to Freddie Mac
      in accordance with the requirements in Section 9210.1(c). (b) Foreclosure of a Cooperative Share Loan When
      referring a Cooperative Share Loan to foreclosure, the Servicer must follow the requirements in Chapter 9301,
      as such requirements may be applicable to Cooperative Units. Additionally, consistent with the requirements
      in Section 9501.2, the Servicer must ensure that the firm accepting the foreclosure referral meets the Firm
      Minimum Requirements (as that term is described in Section 9501.2), including, but not limited to: ■ Having
      experience in general housing-related issues such as Cooperative Share Loans; and ■ No substantial part of
      the firm’s practice includes matters that are adverse to financial institutions, such as Cooperative Corporation
      foreclosures Servicers may submit any foreclosure-related questions or concerns when foreclosing on a Cooperative
      Share Loan to Freddie Mac (Foreclosures@FreddieMac.com). Note: See also Section 8801.1(f) regarding certain
      Servicer warranties required when foreclosing on a Cooperative Share Loan. (c) Foreclosure attorney fees Freddie
      Mac will reimburse Servicers for reasonable attorney fees incurred in connection with the foreclosure of a
      Cooperative Share Loan. Servicers must claim reimbursement using expense code 014005 (Foreclosure on a Cooperative
      Share). Refer to Exhibit 57A, Approved Attorney, Foreclosure, Mediation, Postponement Fees and Title Expenses.'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-6
  canonical_id: fhlmc-8801.3-6
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: 801-12 See also Section 8801.2(d) regarding
    reimbursement of expenses incurred on a Cooperative Share Loan. Note: In addition to the legal services included
    in the attorney fees for an uncontested foreclosure outlined in Section 9701.3(a), any transfer of the Cooperative
    Shares a…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '801-12 See also Section 8801.2(d) regarding reimbursement of expenses incurred on a Cooperative
      Share Loan. Note: In addition to the legal services included in the attorney fees for an uncontested foreclosure
      outlined in Section 9701.3(a), any transfer of the Cooperative Shares and Proprietary Lease is also considered
      included. (d) Post-foreclosure/REO Consistent with the requirements in Sections 8601.8(a) and 9601.1(c), as
      applicable, once Freddie Mac has acquired a Cooperative Unit in REO, Freddie Mac will pay the Cooperative
      Corporation assessments and Cooperative Unit Maintenance Fees. Additionally, pursuant to Section 9603.1(b),
      for a Cooperative Unit in REO, the Servicer must submit to Freddie Mac any information Freddie Mac requests
      from the Servicer, whether from the Mortgage file or, for documents for which a Document Custodian maintains
      physical custody, from the Document Custodian. This includes, but is not limited to: ■ The stock certificate,
      which evidenced the Cooperative Share Loan Borrower’s ownership interest in the Cooperative Corporation ■
      The Cooperative Share Loan Borrower’s Proprietary Lease; and ■ The Recognition Agreement'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-8801.3-7
  canonical_id: fhlmc-8801.3-7
  section: Freddie Mac Guide 8801.3
  description: '8801.3 Loss mitigation for Cooperative Share Loans: 901-1 Chapter 8901: Servicing Requirements for
    HeritageOne® Mortgages'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §8801.3 — Loss mitigation for Cooperative Share Loans
      (09/10/25)
    source_class: gse-guide
    source_url: https://guide.freddiemac.com/
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '901-1 Chapter 8901: Servicing Requirements for HeritageOne® Mortgages'
    drafter_attestation: Verbatim from Freddie Guide §8801.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
