Missing or Outstanding Documents

Late and/or missing documents may delay the Servicer in setting up the borrower’s loan for servicing billing and collection purposes. Such delays can result in RESPA violations. To avoid set-up delays, it is imperative that the Seller deliver all documents identified on the Document Checklist to the Servicer with the initial delivery file.

As noted in Section 4.2 of the Freddie Mac Single-Family Seller/Servicer Guide Exhibit 28A, Cash-Released XChange Sellers may be assessed a late fee of up to $500 if they do not comply with the timelines for completing file transfers to the Servicer. The Servicer will contact you within four business days of a successful file upload, and they will notify you of any missing/outstanding documents.

You must respond to the Servicer’s notification of missing/outstanding documents within 24 hours and forward documents as follows:

Upload missing/outstanding, imaged documents through FAST.
Note: Sellers must utilize this procedure to forward outstanding or missing documents unless instructed otherwise by the Servicer.
Name and number the file with the correct numbering sequence, as outlined in the .zip file name requirements above. When you upload a subsequent file for the same loan, the second file upload number should end in “-2” sequence.

Note: For Cash-Released XChange, the original, recorded final documents must be delivered following the instructions in chapter 9 of the Cash-Released Change User Guide. For Co-Issue XChange, please reach out to the Servicer directly for instructions.

Resources

Visit our webpages to access multiple resources for FAST including:

Get Started: Sell Using FAST (sign up)
Cash-Released XChange
See the Resources & Training sections to access
1. Videos
2. FAQs
3. Tutorial

For questions or additional information, please contact:

Customer Contact Support Center at 800-FREDDIE
[email protected]