source:
  type: guide
  id: fhlmc-3401.3
  authority: Freddie Mac Single-Family Seller/Servicer Guide Section 3401.3 — Credit
    documentation
  description: Freddie Mac Single-Family Seller/Servicer Guide Section 3401.3 — Credit
    documentation.
  coverage_tier: operative
obligations:
- id: fhlmc-3401.3-full
  canonical_id: fhlmc-3401.3-full
  section: Freddie Mac Single-Family Seller/Servicer Guide Section 3401.3 — Credit
    documentation
  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 3401.3 — Credit
      documentation
    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: '3401.3: Credit documentation (03/04/26) This section contains
      requirements related to: ■ Credit documentation ■ Verification of employment
      and income ■ Mortgage payment history ■ Verification of source of funds ■ Verification
      of previous Mortgage/rental payment history (a) Credit documentation A credit
      report must be included in the Mortgage file. If Credit Scores were obtained
      for underwriting, they must be included in the Mortgage file. For any Mortgage
      underwritten with Credit Scores, the Credit Score selected for each Borrower
      and the process used to select the Credit Score must be noted on Form 1077,
      Uniform Underwriting and Transmittal Summary, or another similar document in
      the Mortgage file. Source documentation also must be retained in the Mortgage
      file. (b) Verification of employment and income Documentation of employment
      and income verification and a written analysis, when applicable, of the income
      used to qualify the Borrower must be retained in the Mortgage file. (c) Mortgage
      payment history The Mortgage file must include a payment history from the first
      payment Due Date to the Delivery Date. This Mortgage payment history must: ■
      Demonstrate no Delinquencies of 30 days or more ■ Be understandable without
      code translation (d) Verification of source of funds The Mortgage file must
      include evidence of verification of all eligible sources of funds used to qualify
      the Borrower for the Mortgage transaction. Freddie Mac Single-Family Seller/Servicer
      Guide Chapter 3401 As of 03/04/26 Page 3401-24 (e) Verification of previous
      Mortgage/rental payment history Evidence of verification of Mortgage payment
      history and/or rental payment history for the 12-month period prior to the date
      of the Mortgage application must be included in the Mortgage file for Manually
      Underwritten Mortgages.'
  judgment: false
