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eMortgage Review/Approval Requirements

Seller/Servicer Review & Approval

Approval requirements for Sellers/Servicers seeking to get approved to sell or service eMortgages are provided below:

  • For Sellers/Servicers that use Freddie Mac Reviewed Vendors Systems that are hosted by the technology vendor(s), the following requirements apply:
    • MERS® eRegistry and eDelivery testing (Except for Servicer only customers that are not MERS® eRegistry participants and rely on Servicing Agent’s MERS® eRegistry participation and eNote Vault system).
    • Servicing procedures or servicing agreements:
      • If servicing retained, approval of eMortgage servicing procedures that describe how eMortgage related servicing activities are performed.
        • Note: This is not required if the Seller/Servicer uses a servicing agent that has already been approved by Freddie Mac for eMortgage servicing. However, the Seller/Servicer is required to execute the Servicing Agent agreement (Freddie Mac Form 479A) with the servicing agent.
      • If servicing released, execution of appropriate Freddie Mac Servicing Release agreements.
    • Warehouse lender approval
  • The following additional requirements apply to Sellers/Servicers that use eMortgage systems not yet reviewed by Freddie Mac or host Freddie Mac Reviewed eMortgage systems in their network:
    • Demonstration of eMortgage systems.
      • For Seller approval, demonstration of eClosing and eNote Vault systems is required.
      • For Servicer approval, demonstration of eNote Vault system is required.
    • Certification from Seller/Servicer's or technology vendor’s Chief Technology/Security Officer confirming compliance with Freddie Mac legal and security requirements.
    • Freddie Mac legal analysis.

To continue as a Freddie Mac approved Seller/Servicer, the Seller/Servicer 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.

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 legal 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:
  • 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 legal 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 legal 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.