Question

Go to FHLMC’s website and read about the process of selling mortgages to FHLMC. How are accounts classified? After the account is classified what is required to sell mortgages to FHLMC?

Answer 1

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market. Learn more about our business and our role in the nation’s housing market.

Freddie Mac is focused on building a better housing finance system by supporting the housing market daily, continuously improving our business, and innovating for the future. We continue to demonstrate progress in building a profitable, sustainable business model that will meet the needs of the nation and all the communities we serve in the years to come.

Freddie Mac has three core business lines that play a critical role in financing affordable housing for America's families: 1. Single-Family
2. Multifamily
3. ?Capital Markets.

Requirements to sell morgages to Freddie Mac are as follows -

1) Fill out the Required Application Documents Checklist.
Use the Required Application Documents checklist to mark off each document as you collect and submit them through the online "Become a Freddie Mac Seller/Servicer" portal.

2) Determine Eligibility.
To be considered for approval as a Freddie Mac Single-Family Seller/Servicer, be sure you meet the minimum eligibility requirements.

3) Fill out the Pre-Application Form.
If you have met the minimum eligibility requirements, complete the pre-application form to receive an ID and password, which you’ll need to access your customized application kit.

4) Fill out the Online Application.
After you’ve submitted the pre-application form, you should receive your ID and password by email within two days.