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Early Pool Disclosure and 2 Day Settlement Cycle FAQ

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  1. Is 2-day Gold Rush Settlement Cycle allowed for Multilender?

    No. This rollout is focused on customers receiving disclosure as soon as possible for trading Single Issue Guarantor Pools. Current Settlement Cycle Days apply for Multilender – 1, 3, 4, or 5.

  2. Can live Buyup / Buydown trades be done with 2-day Gold Rush Settlement Cycle?

    No.

  3. Is there a fee for early pool disclosure Settlement Cycle Days of 6 – 15?

    No.

  4. Should my loan(s) that pay off during the Settlement Cycle, for early pool disclosure contracts, be removed from the contract prior to Settlement Date?

    Yes, Per Single-Family Seller/Servicer Guide (Guide) Sections 6203.4 and 6204.4, you should request your loans that pay off during the Settlement Cycle to be removed from the applicable contract/pool. Requests should be submitted to the Customer Support Contact Center (800-FREDDIE) by noon Eastern Standard Time (EST), at least two days prior to the Settlement Date.

  5. If a paid off loan is removed from an early pool disclosure contract during the Settlement Cycle, will the purchase statements be updated?

    Yes, Sellers can repull purchase statements after a paid off loan has been successfully removed from the contract.

  6. If a paid off loan is removed from an early pool disclosure contract during the Settlement Cycle, will the pool disclosure be updated?

    Yes. For fixed-rate pools, the disclosure will be updated intra-day. For adjustable-rate mortgage (ARM) pools, the disclosure will be updated the following morning.

  7. Can live Buyup / Buydown trades be done with 2-day Gold Rush Settlement Cycle?

    No.

  8. If a paid off loan is removed from an early pool disclosure contract during the settlement cycle, will Freddie Mac delete the loan from the Loan Selling Advisor® pipeline?

    Yes. Since the loan is paid off, Freddie Mac will delete the loan from the Loan Selling Advisor pipeline as soon as feasible after successfully being removed.

  9. Will the disclosure continue to be based off the Settlement Locked status?

    Yes.

  10. Can I substitute a loan for a paid off loan during the Settlement Cycle?

    No, you may not substitute loans during the Settlement Cycle.  You can continue to substitute loans prior to the contract being in Ready-to-Fund status.