source:
  type: regulation
  id: fhlmc-3602.3
  authority: Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
  description: "Freddie Mac Guide §3602.3 (Repurchase pricing and documentation). Gap-fill (verbatim, ID-diff).\
    \ \n"
obligations:
- id: fhlmc-3602.3-0
  canonical_id: fhlmc-3602.3-0
  section: Freddie Mac Guide 3602.3
  description: '3602.3 Repurchase pricing and documentation: (11/19/25) This section contains requirements related
    to: ■ Repurchase pricing ■ Documenting and reporting repurchases'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
    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: '(11/19/25) This section contains requirements related to: ■ Repurchase pricing ■ Documenting
      and reporting repurchases'
    drafter_attestation: Verbatim from Freddie Guide §3602.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-3602.3-1
  canonical_id: fhlmc-3602.3-1
  section: Freddie Mac Guide 3602.3
  description: '3602.3 Repurchase pricing and documentation: 602-10 (a) Repurchase pricing The repurchase price
    is determined based on the Mortgage status as follows: (i) Active Mortgages An active Mortgage is a current
    or delinquent Mortgage for which the Servicer reports and Freddie Mac drafts payments and payoffs. The repurchase
    price i…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
    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: '602-10 (a) Repurchase pricing The repurchase price is determined based on the Mortgage status
      as follows: (i) Active Mortgages An active Mortgage is a current or delinquent Mortgage for which the Servicer
      reports and Freddie Mac drafts payments and payoffs. The repurchase price is calculated as follows: ■ The
      UPB of the Mortgage, including any Negative Amortization on an ARM Plus ■ Accrued interest at the applicable
      net yield rate from the first day of the month of repurchase through the day before repurchase (ii) Inactive
      Mortgages An active Mortgage becomes an inactive Mortgage in the Accounting Cycle it becomes 120 days delinquent
      (four payments past due). The repurchase price is calculated as follows: ■ The UPB of the Mortgage, including
      any Negative Amortization on an ARM Plus ■ Accrued interest at the applicable net yield rate from the DDLPI
      through the day before repurchase Plus ■ Any expenses reimbursed by Freddie Mac to the Servicer Plus ■ Any
      other costs incurred by Freddie Mac and the Servicer in connection with foreclosure or the liquidation of
      the Mortgage in default Minus ■ Any mortgage insurance proceeds, sale proceeds, other proceeds, rental income
      or refunds remitted to Freddie Mac by or on behalf of the Servicer'
    drafter_attestation: Verbatim from Freddie Guide §3602.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-3602.3-2
  canonical_id: fhlmc-3602.3-2
  section: Freddie Mac Guide 3602.3
  description: '3602.3 Repurchase pricing and documentation: 602-11 (iii)REO and all other post-foreclosure situations
    The repurchase price is calculated as follows: ■ The UPB of the Mortgage as of the acquisition date or the date
    of acceptance of a deed-in-lieu of foreclosure, including any Negative Amortization on an ARM Plus ■ Accrued
    i…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
    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: '602-11 (iii)REO and all other post-foreclosure situations The repurchase price is calculated
      as follows: ■ The UPB of the Mortgage as of the acquisition date or the date of acceptance of a deed-in-lieu
      of foreclosure, including any Negative Amortization on an ARM Plus ■ Accrued interest at the: • Accounting
      Net Yield (ANY) from the DDLPI through the earlier of the day before the repurchase due date or the 150th
      day from the DDLPI • Average of the prime rate for the month preceding the Repurchase Demand date minus one
      half of 1% from the 151st day from the DDLPI through the earlier of the day before the repurchase due date
      or 60 days after the settlement date of the sale of the REO (if applicable) Plus ■ Any expenses reimbursed
      by Freddie Mac to the Servicer Plus ■ All costs associated with the acquisition, maintenance, rehabilitation
      and disposition of the property acquired, including any incentive or below market financing provided by Freddie
      Mac and the Servicer of the Mortgage in connection with the REO property Plus ■ An allocation for general
      and administrative expenses Plus ■ Any other cost incurred by Freddie Mac and the Servicer in connection with
      the REO property, foreclosure or the liquidation of Mortgages in default Plus ■ The cost of advancing payment
      for expenses net of any proceeds received at the: • ANY from the DDLPI through the earlier of the day before
      the repurchase due date on the 150th day from the DDLPI'
    drafter_attestation: Verbatim from Freddie Guide §3602.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-3602.3-3
  canonical_id: fhlmc-3602.3-3
  section: Freddie Mac Guide 3602.3
  description: '3602.3 Repurchase pricing and documentation: 602-12 • The average of the prime rate for the month
    preceding the Repurchase Demand date minus one half of 1% from the 151st day from the DDLPI through the earlier
    of the day before the repurchase due date or 60 days after the settlement date of the sale of the REO Minus
    ■ Any m…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
    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: 602-12 • The average of the prime rate for the month preceding the Repurchase Demand date minus
      one half of 1% from the 151st day from the DDLPI through the earlier of the day before the repurchase due
      date or 60 days after the settlement date of the sale of the REO Minus ■ Any mortgage insurance proceeds,
      sale proceeds, other proceeds, rental income or refunds remitted to Freddie Mac by or on behalf of the Servicer
      The Seller/Servicer agrees that, in the event of repurchase, it will pay all documentary stamp taxes, recording
      fees, transfer taxes and all other expenses payable in connection with the transfer of Mortgages. At Freddie
      Mac’s discretion, the repurchase price may also include any premium paid for Mortgages Freddie Mac purchased
      or, with respect to Mortgage delivery through the Guarantor program, the premium (expressed as a percentage)
      that was or would have been applicable to the Pool comprising the particular Mortgages, based on market conditions
      existing on the Settlement Date as determined by Freddie Mac, multiplied by the outstanding UPB of the particular
      Mortgage on the repurchase date. In addition, the repurchase price will include an amount equal to any buyup
      proceeds paid by Freddie Mac to the Seller in connection with the sale of the Mortgage to Freddie Mac and
      an amount equal to any loss, damage or expense, including court costs and reasonable attorney fees, as incurred
      by Freddie Mac in connection with its purchase, ownership and resale to the Seller of the Mortgage. The Seller/Servicer
      must remit the repurchase funds or comply with the repurchase appeal requirements in Section 3602.4(b) or
      3602.4(c), as applicable, within 60 days of the date of Freddie Mac’s repurchase letter. If the Seller/Servicer
      does not submit a written appeal to Freddie Mac within 60 days or within such other time frame as specified
      by Freddie Mac, it will be assumed that the Seller/Servicer does not contest the repurchase and that the repurchase
      funds are due to Freddie Mac. Thereupon the Appeal Process will no longer be available to the Seller/Servicer
      for that particular Repurchase Demand. If the Seller/Servicer fails to report an involuntary repurchase in
      accordance with Section 8303.3(f) and the late reported payoff-repurchase results in a delayed Payoff Date
      or if the Seller/Servicer fails to have sufficient funds available for Freddie Mac to draft on the Payoff
      Draft Date, then the Seller/Servicer may be charged a draft delay fee each month on the total amount owed.
      The rate of interest on the late remittance amount will equal the highest quoted prime rate printed on the
      last Business Day following the month in which the repurchase funds are due plus 3% (300 basis points). The
      prime rate is published in The Wall Street Journal’s “Money Rates” column or comparable section. If the prime
      rate is not published, Freddie Mac will determine a comparable rate. The amount of any repurchase late fee
      will appear on the Seller account
    drafter_attestation: Verbatim from Freddie Guide §3602.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-3602.3-4
  canonical_id: fhlmc-3602.3-4
  section: Freddie Mac Guide 3602.3
  description: '3602.3 Repurchase pricing and documentation: 602-13 activity statement described in Section 6303.1(a)
    and will be drafted from the Seller’s Automated Clearing House (ACH) account in accordance with Section 6303.2(a).
    See Section 8303.5(h) for details on how Freddie Mac calculates the draft delay fee and the fee structure. (…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §3602.3 — Repurchase pricing and documentation (11/19/25)
    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: 602-13 activity statement described in Section 6303.1(a) and will be drafted from the Seller’s
      Automated Clearing House (ACH) account in accordance with Section 6303.2(a). See Section 8303.5(h) for details
      on how Freddie Mac calculates the draft delay fee and the fee structure. (b) Documenting and reporting repurchases
      All repurchases must be documented in the applicable Mortgage files and are subject to Freddie Mac review.
      In addition, for any repurchase made to allow a Transfer of Ownership under Section 3602.2(b), the Seller/Servicer
      must also retain the documentation required in Section 8406.3(a) after the transfer has occurred. Repurchases,
      other than those for which the Seller/Servicer has received written demand by Freddie Mac, must have Freddie
      Mac’s prior written approval. (See Section 3602.2(c) for information on submitting a request to repurchase
      a Mortgage.) A repurchase is not completed until the reporting and remitting requirements of Section 8303.3(f)
      have been satisfied.
    drafter_attestation: Verbatim from Freddie Guide §3602.3 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
