source:
  type: guide
  id: fhlmc-9501.1
  authority: Freddie Mac Single-Family Seller/Servicer Guide Section 9501.1 — Firm
    management and evaluation
  description: Freddie Mac Single-Family Seller/Servicer Guide Section 9501.1 — Firm
    management and evaluation.
  coverage_tier: operative
obligations:
- id: fhlmc-9501.1-full
  canonical_id: fhlmc-9501.1-full
  section: Freddie Mac Single-Family Seller/Servicer Guide Section 9501.1 — Firm management
    and evaluation
  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 9501.1 — Firm
      management and evaluation
    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: '9501.1: Firm management and evaluation (09/10/25) This section
      contains information related to: ■ Servicer’s management of law firms for Freddie
      Mac Default Legal Matters ■ Review and evaluation of firms (a) Servicer’s management
      of law firms for Freddie Mac Default Legal Matters This chapter sets forth requirements
      for the Servicer’s review and evaluation, selection, retention and management
      of law firms (referred to throughout this chapter as “firms”) for Freddie Mac
      Default Legal Matters. Each Servicer is responsible for retaining firms for
      Freddie Mac Default Legal Matters. Freddie Mac will continue to retain firms
      directly for REO-related legal services: eviction, REO closing and related litigation.
      Note: Refer to Chapters 9401 and 9402 for more information relating to litigation.
      (b) Review and evaluation of firms (i) Servicer due diligence As part of its
      selection process, each Servicer is responsible for obtaining and evaluating
      documentation and information from firms and conducting due diligence to ensure
      that selected firms meet the requirements set forth in Section 9501.2. As part
      of the process, each Servicer must: ■ Obtain and review all required documentation
      and information submitted by each firm ■ Ensure that it selects from a pool
      of potentially acceptable firms that is diverse and includes minority and women-owned
      firms and other diverse firms when feasible; and ■ Ensure that the firm or any
      entity or individual performing work for the firm is not on the Freddie Mac
      Exclusionary List in accordance with Section 3101.1 Freddie Mac Single-Family
      Seller/Servicer Guide Chapter 9501 As of 09/10/25 Page 9501-2 (ii) Due diligence
      documentation The Servicer must provide to Freddie Mac upon request a copy of
      each firm’s application information and related due diligence documentation.
      Freddie Mac reserves the right to review the process, procedures and due diligence
      used by the Servicer to evaluate and select a firm. (iii)Document retention
      requirements The Servicer must retain all information submitted by a firm in
      support of the firm’s application and all information otherwise gathered by
      the Servicer regarding the firm. If the Servicer retains the firm to provide
      legal services on Freddie Mac-owned or guaranteed Mortgages, then it must retain
      the information for as long as the firm provides those legal services plus the
      longer of any retention period applicable to the Servicer or seven years. If
      the Servicer does not retain the firm to provide legal services on Freddie Mac-owned
      or guaranteed Mortgages, then it must retain the information for the longer
      of any retention period applicable to the Servicer or seven years.'
  judgment: false
