source:
  type: guide
  id: fhlmc-6304.1
  authority: Freddie Mac Single-Family Seller/Servicer Guide Section 6304.1 — Custody
    of Notes and assignments
  description: Freddie Mac Single-Family Seller/Servicer Guide Section 6304.1 — Custody
    of Notes and assignments.
  coverage_tier: operative
obligations:
- id: fhlmc-6304.1-full
  canonical_id: fhlmc-6304.1-full
  section: Freddie Mac Single-Family Seller/Servicer Guide Section 6304.1 — Custody
    of Notes and assignments
  type: do
  tags:
  - regulator-direct
  - fhlmc
  - freddie-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide Section 6304.1 — Custody
      of Notes and assignments
    source_class: fhlmc-guide
    source_url: https://guide.freddiemac.com/ci-guide
    snapshot_id: 5869ee9e606cd4ae
    fetched_at: '2026-05-23T00:27:40Z'
    content_hash: sha256:9a1b23e5024bb369e7a59d36b3702383c11ace68b5d209fdef791bc8f955c637
    paragraph_quote: '6304.1: Custody of Notes and assignments (12/17/25) This section
      contains the requirements related to: ■ Delivery of original Notes ■ Definition
      and scope of Notes and assignments ■ Delivery instructions for Notes and assignments
      (a) Delivery of original Notes The Seller/Servicer selling Mortgages to Freddie
      Mac must deliver the original Notes for such Mortgages to a Document Custodian,
      which may be a Designated Custodian or another approved Document Custodian,
      chosen by the Seller/Servicer in accordance with the requirements of Sections
      2202.1(b) and 2202.2. Freddie Mac does not accept duplicate Notes or corrected
      Notes. However, Freddie Mac may in special instructions, program announcements
      or individual Mortgage Purchase Contracts, require the Notes to be delivered
      to a Designated Custodian. For example, the Notes for Mortgages (other than
      eMortgages) sold through Cash-Released XChange® must be delivered to a Document
      Custodian listed in Exhibit 43, Cash-Released XChange® Document Custodians,
      as set forth in Section 2202.2(c). (b) Definition and scope of Notes and assignments
      For purposes of delivering Notes to a Document Custodian, the term “Note” includes
      the Note evidencing the indebtedness along with any power of attorney or any
      applicable modifying instrument, such as a modification, a conversion agreement
      or an assumption of indebtedness and release of liability agreement. The term
      “assignment” refers to the Intervening Assignment and to the instrument necessary
      to assign the Security Instrument to Freddie Mac, as described in Section 6301.2(d).
      (c) Delivery instructions for Notes and assignments When delivering Notes to
      the Document Custodian, the Seller/Servicer must also deliver all original assignments
      as described in Sections 6301.2(d)(i) through 6301.2(d)(iii), unless the Mortgage
      is registered with MERS® and the Seller/Servicer has elected to retain all assignments
      for MERS-registered Mortgages in the Mortgage files. Freddie Mac Single-Family
      Seller/Servicer Guide Chapter 6304 As of 12/17/25 Page 6304-2 If the Seller
      has so elected for MERS-registered Mortgages, the Seller/Servicer must provide
      its Document Custodian with documentation that will enable the Document Custodian
      to verify that the Seller/Servicer has elected to hold assignments in the Mortgage
      files for MERS-registered Mortgages. The following table indicates which Guide
      sections to reference for delivery instructions to the Document Custodian based
      on the type of Mortgage closing used: Instructions for delivery to the Document
      Custodian If the Seller/Servicer originates… Then… Mortgages using paper closing
      documents that have been electronically recorded in the recorder’s office See
      Section 1401.3(d) Mortgages using electronically created closing documents that
      have been electronically recorded in the recorder’s office See Section 1401.3(e)
      eMortgages See Section 1402.5(d) 6304.2: Delivery of Notes and assignments to
      a Document Custodian (12/03/25) This section contains requirements related to:
      ■ Delivery of Notes and assignments ■ Delivery of Notes and assignments for
      Cooperative Share Loans (a) Delivery of Notes and assignments In accordance
      with Section 6301.4(a), the Seller/Servicer must deliver the following items
      to the Document Custodian: ■ Form 1034E, Custodial Certification Schedule: The
      Seller/Servicer must deliver Form 1034E, or the Note Delivery Cover Sheet, to
      the Document Custodian. ■ Mortgage documents: For each Mortgage, the original
      Note (endorsed as required in Section 6301.2(a)), along with the originals of
      any riders or other modifying instruments to the Note. The information on the
      Note must match the information for the corresponding Mortgage in Loan Selling
      Advisor®. ■ Assignments: All original Intervening Assignments of the Security
      Instruments prepared and completed as required in Section 6301.2(d). Freddie
      Mac Single-Family Seller/Servicer Guide Chapter 6304 As of 12/17/25 Page 6304-3
      (b) Delivery of Notes and assignments for Cooperative Share Loans For each Cooperative
      Share Loan, in addition to meeting the requirements of Section 6304.3(a), the
      Seller/Servicer must deliver the following to the Document Custodian: ■ Original
      stock certificate, membership certificate or other instrument or agreement of
      similar import that is commonly used and is valid and enforceable in the applicable
      jurisdiction and evidences the Shareholder’s ownership interest in the Cooperative
      Corporation, ■ Original stock power, executed in blank, ■ Original Proprietary
      Lease, occupancy agreement or other agreement of similar import that is commonly
      used and is valid and enforceable in the applicable jurisdiction, ■ Original
      assignment of Proprietary Lease executed in the name of Seller or blank, ■ A
      copy of recorded UCC-1 financing statements and renewal assignment statements,
      if applicable, with original filing stamp, ■ Original Form UCC-3 assigning interest
      to Freddie Mac in a form suitable for filing, but not filed, ■ Original security
      agreement, and ■ Original Recognition Agreement 6304.3: Document Custodian’s
      functions and duties upon receiving Notes and assignments (12/17/25) This section
      contains requirements related to: ■ Verifications ■ Certification process ■
      Electronically recorded documents ■ Duties to Freddie Mac Freddie Mac Single-Family
      Seller/Servicer Guide Chapter 6304 As of 12/17/25 Page 6304-4 (a) Verifications
      (i) Verification of Notes and assignments Upon receiving the Notes and assignments
      from the Seller/Servicer for Mortgages delivered for purchase by Freddie Mac,
      the Document Custodian must verify and certify that the following requirements
      have been met: ■ Note: The information on each Note matches all corresponding
      loan data for the related Mortgage contained in Loan Selling Advisor®. The Document
      Custodian is not required to verify the Seller/Servicer number. ■ Note endorsement:
      Each Note is endorsed as required by Section 6301.2(a). If the Seller/Servicer
      delivering the Note is not the original payee on the Note, the Document Custodian
      must verify that the chain of endorsements is proper and complete from the original
      payee on the Note to the Seller delivering the Note to Freddie Mac (not to the
      Servicer). ■ Assignments: The assignments of the Security Instruments from the
      original Mortgagee to the Seller/Servicer or to MERS® are prepared, executed
      and recorded where required, in accordance with Sections 6301.2(d) and 7101.4(a).
      The Seller/Servicer must provide its Document Custodian with any documentation
      necessary for the Document Custodian to determine whether the Seller/Servicer
      has elected to retain physical custody of all assignments for Mortgages registered
      with MERS and store the assignments in the Mortgage files, as provided in Section
      6301.2(d). (ii) Verification of Notes and assignments for Cooperative Share
      Loans For each Cooperative Share Loan, in addition to the requirements in Section
      6304.3(a)(i), the Document Custodian must verify that the Seller has delivered
      to Document Custodian and has in its possession the following: ■ Original stock
      certificate, membership certificate or other instrument or agreement of similar
      import that is commonly used and is valid and enforceable in the applicable
      jurisdiction and evidences the Shareholder’s ownership interest in the Cooperative
      Corporation, ■ Original stock power, executed in blank, ■ Original Proprietary
      Lease, occupancy agreement or other agreement of similar import that is commonly
      used and is valid and enforceable in the applicable jurisdiction, ■ Original
      assignment of Proprietary Lease executed in the name of Seller or in blank,
      Freddie Mac Single-Family Seller/Servicer Guide Chapter 6304 As of 12/17/25
      Page 6304-5 ■ A copy of recorded UCC-1 financing statements and renewal assignment
      statements, if applicable, with original filing stamp, ■ Original Form UCC-3
      assigning interest to Freddie Mac in a form suitable for filing, but not filed,
      ■ Original security agreement, and ■ Original Recognition Agreement (b) Certification
      process The Document Custodian must comply with the applicable requirements
      of the Purchase Documents when certifying Mortgages delivered for purchase by
      Freddie Mac. Refer to the Document Custody Procedures Handbook for additional
      information. The Document Custodian must not execute the Custodian Certification
      for a Mortgage if any of the information on the related Note, required to be
      verified and certified, does not match the corresponding loan data for the related
      Mortgage in Loan Selling Advisor as set forth in Section 6304.3(a) or if any
      discrepancy is not sufficiently justified. The Document Custodian must notify
      the delivering Seller/Servicer of any error, omission or other discrepancy that
      requires corrective action. (c) Electronically recorded documents See Sections
      1401.3(d) and 1401.3(e) for information and instructions regarding electronically
      recorded paper documents and/or electronically recorded Electronic (as that
      term is defined in Section 1401.1(b)) documents. (d) Duties to Freddie Mac Upon
      certification of the Notes, the Document Custodian must maintain physical custody
      of the Notes, any assignments, any power of attorney, any modification agreement
      and any other documents relating to the Mortgage, and, for Cooperative Share
      Loans, the documents listed in Section 6304.2(b), in trust, for the benefit
      of Freddie Mac. Note: See Sections 8107.2(b) and (c) for requirements related
      to the physical or constructive possession of the Note in connection with the
      Servicing of a Mortgage. Freddie Mac Single-Family Seller/Servicer Guide Chapter
      6305 As of 04/08/26 Page 6305-1 Chapter 6305: Warehouse Financing Arrangements'
  judgment: false
