source:
  type: regulation
  id: fhlmc-5103.6
  authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
  description: "Freddie Mac Guide §5103.6 (Land Trust). Gap-fill (verbatim, ID-diff). \n"
obligations:
- id: fhlmc-5103.6-0
  canonical_id: fhlmc-5103.6-0
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: This section contains information related to: ■ General eligibility requirements
    ■ Required Uniform Instrument signatures ■ Special documentation: Collateral Assignment of Beneficial Interest
    (“Collateral Assignment”)'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: 'This section contains information related to: ■ General eligibility requirements ■ Required
      Uniform Instrument signatures ■ Special documentation: Collateral Assignment of Beneficial Interest (“Collateral
      Assignment”)'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-1
  canonical_id: fhlmc-5103.6-1
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 103-11 ■ Title and title insurance requirements ■ Mortgage file documentation
    requirements Freddie Mac will purchase Land Trust Mortgages under the terms of this section and all other requirements
    of the Guide. (a) General eligibility requirements (i) Location of Mortgaged Premis…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '103-11 ■ Title and title insurance requirements ■ Mortgage file documentation requirements
      Freddie Mac will purchase Land Trust Mortgages under the terms of this section and all other requirements
      of the Guide. (a) General eligibility requirements (i) Location of Mortgaged Premises The Mortgaged Premises
      must be located in a State that recognizes and permits the use of Land Trusts by statute. (ii) Beneficiary
      of a Land Trust At least one beneficiary of the Land Trust must be a Borrower. Each beneficiary who is a Borrower
      must be fully underwritten and a qualified Borrower in the beneficiary’s individual capacity. A beneficiary
      of the Land Trust Mortgage who is a Borrower must be deemed to be an owner of the property/Mortgaged Premises.
      (iii) Trust requirements All beneficiaries of the Land Trust must be individuals. The trustee of the Land
      Trust must be a corporation or financial institution customarily engaged in the business of acting as trustee
      for land trusts in the applicable jurisdiction. The Mortgaged Premises must be the only asset of the Land
      Trust. (iv) Property type and occupancy requirements Each Land Trust Mortgage must be secured by one of the
      following: ■ A 1- to 4-unit Primary Residence occupied by a beneficiary of the Land Trust who is a Borrower
      ■ A second home occupied for some portion of the year by a beneficiary of the Land Trust who is a Borrower,
      or ■ A 1- to 4-unit Investment Property, provided at least one beneficiary of the Land Trust is a Borrower'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-2
  canonical_id: fhlmc-5103.6-2
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 103-12 (b) Required Uniform Instrument signatures (i) Form of signature for Note
    Each beneficiary of a Land Trust who is a Borrower must sign the Note in their individual capacity. (ii) Signature
    required on Security Instrument The trustee of the Land Trust must execute the Secur…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '103-12 (b) Required Uniform Instrument signatures (i) Form of signature for Note Each beneficiary
      of a Land Trust who is a Borrower must sign the Note in their individual capacity. (ii) Signature required
      on Security Instrument The trustee of the Land Trust must execute the Security Instrument. Note: See Section
      4101.6 for additional Note and Security Instrument signature requirements. (c) Special documentation: Collateral
      Assignment of Beneficial Interest (“Collateral Assignment”) (i) Collateral Assignment requirements Each beneficiary
      of the Land Trust who is a Borrower must execute a Collateral Assignment under which the beneficiary: ■ Grants
      the lender named in the Security Instrument and the Note and the lender’s successors and assigns (the “Lender”)
      a security interest in the following (collectively, the “Collateral”): ❑ All of the beneficiary’s rights,
      title, powers and interests in, under and to the Land Trust ❑ The property held in the Land Trust (including
      any rights to earnings or proceeds from that property), and ❑ The Land Trust agreement (including any powers
      of direction or control over the trustee of the Land Trust or the property) ■ Certifies that no prior security
      interest in the Collateral has been granted ■ Agrees not to make any further assignment or take any other
      action by which all or any part of the Collateral is transferred in any way without the written approval of
      the Lender; and ■ Agrees that the Collateral Assignment is for collateral security only, no liability under
      the Land Trust agreement accrues to the Lender by virtue of the Collateral Assignment, and signing the Collateral
      Agreement does not relieve the beneficiary of any responsibility or liability under the Land Trust agreement'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-3
  canonical_id: fhlmc-5103.6-3
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 103-13 (ii) Collateral Assignment signatures requirements The Collateral Assignment
    must be signed by the appropriate parties as follows: ■ Each beneficiary of the Land Trust who is a Borrower
    must individually execute the Collateral Assignment ■ The lender named in the Security …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '103-13 (ii) Collateral Assignment signatures requirements The Collateral Assignment must be
      signed by the appropriate parties as follows: ■ Each beneficiary of the Land Trust who is a Borrower must
      individually execute the Collateral Assignment ■ The lender named in the Security Instrument and the Note
      in whose favor the beneficiary of the Land Trust grants a security interest under the Collateral Assignment
      (the “Assignee”) must accept the Collateral Assignment ■ The trustee of the Land Trust must receive and agree
      to, endorse and/or acknowledge, as appropriate in the applicable jurisdiction, the Collateral Assignment (iii)Collateral
      Assignment form (A) Sample Illinois Collateral Assignment form Form 50, Collateral Assignment of Beneficial
      Interest in Land Trust, is a sample form of Collateral Assignment for Land Trust Mortgages secured by Mortgaged
      Premises located in Illinois. The Seller may use: ■ Freddie Mac’s form for Land Trust Mortgages secured by
      Mortgaged Premises located in Illinois, or ■ An alternative form that meets Illinois requirements (B) Collateral
      Assignment forms for use in other jurisdictions For Land Trust Mortgages secured by property located in jurisdictions
      other than Illinois, the Seller must use a form of Collateral Assignment that reflects the requirements of
      the jurisdiction in which the Mortgaged Premises is located (unless the Seller determines that the use of
      Form 50 is appropriate for the specific jurisdiction). (iv) Collateral Assignment representations and warranties
      The Seller represents and warrants that the Collateral Assignment is: ■ Appropriately executed by each beneficiary
      of the Land Trust who is a Borrower ■ Accepted by the lender named in the Security Instrument and the Note
      in whose favor the beneficiary of the Land Trust grants a security interest under the Collateral Assignment
      (the “Assignee”)'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-4
  canonical_id: fhlmc-5103.6-4
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 103-14 ■ Appropriately received and agreed to, endorsed and/or acknowledged,
    as appropriate in the applicable jurisdiction, by the trustee of the Land Trust ■ Valid, enforceable and meets
    the provisions of the applicable jurisdiction, including relevant statutes, regulations and …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '103-14 ■ Appropriately received and agreed to, endorsed and/or acknowledged, as appropriate
      in the applicable jurisdiction, by the trustee of the Land Trust ■ Valid, enforceable and meets the provisions
      of the applicable jurisdiction, including relevant statutes, regulations and judicial decisions if the Land
      Trust Mortgage is secured by Mortgaged Premises located in a jurisdiction other than Illinois or by Mortgaged
      Premises located in Illinois and the Seller uses a form of Collateral Assignment other than Form 50. (d) Title
      and title insurance requirements The Land Trust Mortgage must constitute a valid First Lien. The Land Trust
      Mortgage must be covered by a title insurance policy that meets the requirements of Chapter 4702. (e) Mortgage
      file documentation requirements In addition to other requirements in the Purchase Documents, for Land Trust
      Mortgages, the Mortgage file also must contain: ■ Copy of Land Trust agreement: A copy of the original Land
      Trust agreement or an abstract if required by the jurisdiction ■ Documentation of power of direction: Documentation
      evidencing that the beneficiary(ies) of the Land Trust holding the power of direction as provided in the trust
      documents have authorized and directed the trustee of the trust to execute the Mortgage documents. If the
      trust documents require more than one beneficiary holding the power of direction to so authorize and direct
      the trustee, then the documentation must evidence that the requisite number of beneficiaries have so directed
      the trustee; and ■ Collateral Assignment: A fully executed or certified copy of Collateral Assignment, as
      described below for the applicable jurisdiction. A “Fully Executed Collateral Assignment” is the original
      Collateral Assignment executed by each beneficiary of the Land Trust who is a Borrower in that beneficiary’s
      individual capacity, accepted by the lender named in the Security Instrument and the Note in whose favor the
      beneficiary of the Land Trust grants a security interest under the Collateral Assignment (the “Assignee”),
      and received and agreed to or endorsed and/or acknowledged by the trustee. A “Certified Copy of Collateral
      Assignment” is a copy, certified by the trustee as a true and complete copy, of the Fully Executed Collateral
      Assignment. ❑ Mortgaged Premises located in Illinois: For Mortgaged Premises located in Illinois, the Mortgage
      file also must contain: ■ Certified Copy of Collateral Assignment: A Certified Copy of Collateral Assignment.
      The Seller must ensure that the Fully Executed Collateral'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-5
  canonical_id: fhlmc-5103.6-5
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 103-15 Assignment can be obtained from the trustee upon request by a Seller/Servicer
    and/or by Freddie Mac. ■ Facsimile Assignment of Beneficial Interest: Facsimile Assignment of Beneficial Interest
    If… Then… ■ An Illinois jurisdiction requires recording of a facsimile assignment…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '103-15 Assignment can be obtained from the trustee upon request by a Seller/Servicer and/or
      by Freddie Mac. ■ Facsimile Assignment of Beneficial Interest: Facsimile Assignment of Beneficial Interest
      If… Then… ■ An Illinois jurisdiction requires recording of a facsimile assignment of beneficial interest (or
      similar document) (“facsimile”), and ■ Until the trustee is provided with the recorded facsimile, the trustee
      will not receive and agree to and/or endorse and/or acknowledge the Collateral Assignment executed by each
      beneficiary of the Land Trust who is a Borrower in that beneficiary’s individual capacity and accepted by
      the Assignee ■ The Seller may retain in the Mortgage file copies of the executed and accepted Collateral Assignment
      and the facsimile sent for recording, provided that the Seller also retains in the Mortgage file a letter
      of intent confirming that the Seller will: ❑ Obtain the trustee receipt and agreement/endorsement/ acknowledgement
      upon receipt of the recorded facsimile, and ❑ Place the Certified Copy of Collateral Assignment in the Mortgage
      file ❑ Mortgaged Premises located in a State other than Illinois: For Mortgaged Premises located in any other
      State that by statute recognizes and permits the use of Land Trusts, the Fully Executed Collateral Assignment
      is required'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-6
  canonical_id: fhlmc-5103.6-6
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 201-1 Chapter 5201: Credit Assessment with Loan Product Advisor®'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '201-1 Chapter 5201: Credit Assessment with Loan Product Advisor®'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-7
  canonical_id: fhlmc-5103.6-7
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: Credit assessment with Loan Product Advisor® (02/10/26) This section contains
    requirements related to: ■ Documenting Borrower’s credit reputation ■ Assessing Borrower’s credit reputation
    ■ Accept Mortgages with Borrowers who do not have a usable Credit Score ■ Inquiries on a Borr…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: 'Credit assessment with Loan Product Advisor® (02/10/26) This section contains requirements
      related to: ■ Documenting Borrower’s credit reputation ■ Assessing Borrower’s credit reputation ■ Accept Mortgages
      with Borrowers who do not have a usable Credit Score ■ Inquiries on a Borrower credit report ■ Rent payment
      history included in the Loan Product Advisor® assessment ■ Borrower cash flow included in the Loan Product
      Advisor assessment (a) Documenting Borrower’s credit reputation To document the credit reputation for Loan
      Product Advisor Accept Mortgages, the Seller must use the following: ■ The Uniform Residential Loan Application
      ■ The credit reports (see Section 5203.1 for details) ■ The Last Feedback Certificate ■ An underwriting summary
      (e.g. Form 1077, Uniform Underwriting and Transmittal Summary) Direct verification of Mortgage debt, rental
      payments and other debts not shown on the credit reports are typically not required for Accept Mortgages.
      For Accept Mortgages with Borrowers who do not have a usable Credit Score, the requirements in Section 5201.1(c)
      below apply. The Seller is not required to obtain or document an explanation of adverse or derogatory credit
      information on Accept Mortgages.'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-8
  canonical_id: fhlmc-5103.6-8
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 201-2 (b) Assessing Borrower’s credit reputation For Accept Mortgages, Loan Product
    Advisor has assessed the Borrower’s credit reputation and determined that the credit reputation is acceptable.
    (c) Accept Mortgages with Borrowers who do not have a usable Credit Score (i) Mortgag…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '201-2 (b) Assessing Borrower’s credit reputation For Accept Mortgages, Loan Product Advisor
      has assessed the Borrower’s credit reputation and determined that the credit reputation is acceptable. (c)
      Accept Mortgages with Borrowers who do not have a usable Credit Score (i) Mortgages where not all Borrowers
      have a usable Credit Score For Mortgages where not all Borrowers have a usable Credit Score, Loan Product
      Advisor will apply the following requirements: ■ At least one Borrower must have a usable Credit Score, as
      determined by Loan Product Advisor ■ The transaction must be a purchase or “no cash-out” refinance Mortgage
      ■ The Mortgaged Premises must be a 1-unit property, occupied by all Borrowers as their Primary Residence For
      Mortgages other than Refi Possible® Mortgages, if the Borrower(s) without a usable Credit Score contributes
      50% or more of the total monthly income, the Seller must determine that the following additional requirements
      are met: ■ Each Borrower without a usable Credit Score must have at least two payment references in the United
      States comprised of Noncredit Payment References and/or Tradelines not appearing on the credit report that
      meet the requirements in the following Guide sections: Topic Guide section Written verifications 5102.3 Age
      of documentation 5102.4 Documentation of Tradelines and Noncredit Payment References 5202.1(b) If two or more
      Borrowers without a usable Credit Score have the same payment reference, then the payment reference may count
      for each of those Borrowers. ■ Each payment reference must have existed for at least the most recent 12 months
      ■ At least one Borrower without a usable Credit Score must have a housing payment history as one of the payment
      references and all housing payment histories must have no 30-day or greater Delinquencies in the most recent
      12 months'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
- id: fhlmc-5103.6-9
  canonical_id: fhlmc-5103.6-9
  section: Freddie Mac Guide 5103.6
  description: '5103.6 Land Trust: 201-3 In the event more than one Borrower without a usable Credit Score has a
    housing payment history, then all such housing payment histories for the most recent 12 months (or length of
    housing payment history if less than 12 months) must be verified ■ For all payment references…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - fhlmc-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Freddie Mac Single-Family Seller/Servicer Guide §5103.6 — Land Trust (07/02/25)
    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: '201-3 In the event more than one Borrower without a usable Credit Score has a housing payment
      history, then all such housing payment histories for the most recent 12 months (or length of housing payment
      history if less than 12 months) must be verified ■ For all payment references other than housing, in the most
      recent 12 months, there must be: ❑ No more than one 30-day Delinquency; and ❑ No 60-day or greater Delinquencies
      ■ Each Borrower without a usable Credit Score must have no collections (other than medical), judgments or
      tax liens filed in the most recent 24 months (ii) Mortgages where no Borrower has a Credit Score For Mortgages
      where no Borrower has a Credit Score, Loan Product Advisor will apply the following requirements: ■ The transaction
      must be a purchase or “no cash-out” refinance Mortgage ■ The Mortgaged Premises must be a 1-unit property,
      occupied by all Borrowers as their Primary Residence ■ The loan-to-value (LTV)/total LTV (TLTV)/Home Equity
      Line of Credit (HELOC) TLTV (HTLTV) ratios must not exceed 95% ■ The Mortgage must be a fixed-rate Mortgage
      ■ The Mortgage must not be a super conforming Mortgage ■ The Mortgage must not be a Refi Possible Mortgage
      In addition, unless the Last Feedback Certificate includes a feedback message that indicates positive Borrower
      cash flow was identified, the Seller must determine that the following requirements are met: ■ Each Borrower
      must have at least two payment references in the United States comprised of Noncredit Payment References and/or
      Tradelines not appearing on the credit report that meet the requirements in the following Guide sections:'
    drafter_attestation: Verbatim from Freddie Guide §5103.6 body (max-gap occurrence), snapshot 5869ee9e606cd4ae;
      substring-verified.
  judgment: false
