eMortgage Review/Approval Requirements

Vendor Review & Approval

Vendors can have their systems reviewed by Freddie Mac, even if a Seller/Servicer has not yet selected the system they will use. It can expedite the Seller/Servicer’s approval process should they decide to use a previously reviewed vendor system.

To be reviewed to offer an eMortgage solution to Freddie Mac-approved Seller/Servicers, vendors must complete the following:

• Demonstration of eClosing and eNote Vault systems.
• MERS^® eRegistry and eDelivery testing.
• Certification from the vendor’s Chief Technology/Security Officer confirming compliance with Freddie Mac legal and security requirements.

Freddie Mac may, in its sole discretion, request additional information concerning the Systems and associated processes and procedures for further analysis.

To continue as a Freddie Mac reviewed vendor, the vendor’s Chief Technology/Security Officer must provide an annual certification confirming continued compliance with Freddie Mac legal and security requirements.

Warehouse Lender Approval

Approval requirements for Warehouse Lenders seeking to get approved to provide warehouse lines of credit to Seller/Servicers originating eMortgages that are sold to Freddie Mac are provided below:

• For Warehouse Lenders that use Freddie Mac Reviewed Vendor Systems that are hosted by the technology vendor(s), the following requirements apply:
  • MERS^® eRegistry and eDelivery testing.
  • Completion and execution of  Form 994, Warehouse Lender.
• The following additional requirements apply to Warehouse Lenders that use eNote Vault system not yet reviewed by Freddie Mac, host Freddie Mac Reviewed eNote Vault system in their network or use their propriety eNote Vault system:
  • Demonstration of eNote Vault system.
  • Certification from Warehouse Lender's or technology vendor’s Chief Technology/Security Officer confirming compliance with Freddie Mac legal and security requirements.

Freddie Mac may, in its sole discretion, request additional information concerning the Systems and associated processes and procedures for further analysis.

To continue as a Freddie Mac approved Warehouse Lender, the Warehouse Lender must have its, or cause its technology vendor’s, Chief Technology/Security Officer to provide an annual certification confirming continued compliance with Freddie Mac legal and security requirements.

eNote Custodian Review & Approval

Document Custodians interested in getting approved to provide eNote custody and eNote certification servicers are required to complete the following steps:

1. Obtain Freddie Mac’s approval of the eNote Vault system.
2. Develop and obtain Freddie Mac’s approval of the automated certification service. Reach out to [email protected] for assistance.

eNote Vault System Approval Requirements

For eNote Custodians that use Freddie Mac Reviewed Vendor Systems that are hosted by the technology vendor(s), the following requirements apply:

• MERS^® eRegistry and eDelivery testing.

The following additional requirements apply for eNote Custodians that use eMortgage systems not yet reviewed by Freddie Mac or host Freddie Mac Reviewed eMortgage systems in their network:

• Demonstration of eMortgage systems.
• Certification from Seller/Servicer's or technology vendor’s Chief Technology/Security Officer confirming compliance with Freddie Mac legal and security requirements.

Freddie Mac may, in its sole discretion, request additional information concerning the Systems and associated processes and procedures for further analysis.

To continue as a Freddie Mac approved eNote Custodian, the eNote Custodian must have its, or cause its technology vendor’s, Chief Technology/Security Officer to provide an annual certification confirming continued compliance with Freddie Mac legal and security requirements.