Introducing Payoff Draft Date 18

In Single-Family Seller/Servicer Guide (Guide) Bulletin 2025-14, we introduced Payoff Draft Date 18 mortgages. These loans are identified by a prepayment remittance due date of 18 on Loan Selling Advisor’s Contract Details screen and in the Export Contract Details report, the Guarantor Settlement Summary report and the Guarantor Funding Details report.

For matured and prepaid payoffs and repurchases, Servicers are required to remit the unpaid principal balance (UPB) of the loan and one full month of interest to be drafted on the 18th calendar day of the following cycle or the prior business day if the 18th is a non-business day. There are no changes to reporting requirements.

Benefits of Payoff Draft Date 18

  • Improved Efficiency: Streamlines the payoff process and reduces administrative burden.
  • Industry Alignment: Brings Freddie Mac’s practices in line with broader market standards.
  • Operational Consistency: Ensures uniform treatment across payoff and repurchase transactions.
  • Commitment to Excellence: Reinforces Freddie Mac’s dedication to servicing innovation and the goals of the Servicing Excellence initiative.

Contact your Freddie Mac representative or Customer Service (800-FREDDIE) with any questions or concerns.