11/27/2021

Freddie Exclusionary List

Freddie

Freddie Mac Exclusionary List 2018

Compliance with Guide Chapters 8402, 8404, 9101, 9102, 9201-9209, 9301, 9401, 9402, 9501 and 9502, including, but not limited to:  Waterfall policies  Freddie Mac Exclusionary List check procedures  Servicemembers Civil Relief Act (SCRA) procedures  Default Related Legal Services  Pre-foreclosure process review  Foreclosure process review and timelines  Bankruptcy process review and filing of Motions for Relief from Stay.

Guide Section 2.24, now titled Freddie Mac Exclusionary List and FHFA Suspended Counterparty Program, to include requirements related to FHFA's Suspended Counterparty Program. Under the program, Freddie Mac is prohibited from conducting business with individuals and entities whose names are on FHFA's Suspended Counterparty Program list. Freddie Mac Exclusionary List (posted on the Intranet Operations Page) Regardless of the reason for the party being excluded, any party to the transaction included on either list will result in the.

Broker does not and shall not employ anyone, and shall not receive any Loan Application from any borrower, whose name appears on (a) HUD’s exclusionary list, including, but not limited to, LDP, GSA, and CAIVRS, (b) the most recently published Freddie Mac Exclusionary List; (c) the most recent list which may be published from time to time by any government-sponsored agency which shows individuals or companies which are excluded from doing business with that agency.

Without limiting the generality of the foregoing, under no circumstances shall Related Third Party enable or permit any person or entity whose name is on the Freddie Mac Exclusionary List to access or use the Licensed Materials.

Freddie Mac may terminate Related Third Party’s and its Authorized User’s rights to use any System if Related Third Party or any of its employees, contract workers, directors or officers identified in the Freddie Mac Exclusionary List (including any of the foregoing who are Authorized Users) participates either in the origination or sale of a mortgage loan to Freddie Mac or in the underlying real estate transaction.

In the event Related Third Party obtains access to the Freddie Mac Exclusionary List, it shall strictly comply with all terms, conditions and limitations associated with such access and any use.

Transcript for Video:

Freddie Mac has what is called an exclusionary list. How many people knew this existed? Freddie Mac has a blacklist. Freddie Mac has what they call an exclusionary list. The interesting thing about the exclusionary list is even though it says in there, it’s confidential, and it’s strictly maintained by Freddie Mac, they share it with Fannie May, with FHA, with all these other organizations.

Freddie Mac Appraiser Exclusionary List

The people that go on this list, are people that Freddie Mac finds, or Fannie May finds, or FHA finds who do these types of short sale filps without disclosure. The reason I found out about it is I had a client, a broker come to me, who’s been on the exclusionary list now for three years. She did a short sale, she did a short sale flip, she didn’t understand what she was doing, she was doing somebody’s, some guru’s program and didn’t quite understand what she was doing, both her and the title company ended up on the exclusionary list. For three years, she could do nothing but cash deals because if she ever came across a situation where Freddie Mac, Fannie May, FHA, VA were the short sale lender, or the lender that was providing financing to the buyer, either one, she was flagged on the exclusionary list she was left off and she could not do the transaction, she could not be paid a commission for that transaction. Freddie Mac, Fannie May, the rest, refused to close the deal. Regardless of which side they were on. So, a lot of times what attorneys will tell you, I know I’ve said it to clients before myself is that: it’s wrong, you should not be doing this. But let’s say that you have a buyer that says: Well I don’t care that I signed this affidavidt that says I can’t resell it within 30 days, how’s the bank ever going to find out? In this lady’s particular case they did, and they put her on the list. The way we got her off, was sort of a maya culpa to Freddie Mac, we’re sorry we did this, here’s why we did this, here’s what we’ve learned, here’s the systems we’ve implemented so we don’t do it again But it cost this realtor how many thousands and thousands of dollars in commissions, plus she had to pay me to help get her off the list. Because she did a lie by omission basically, in a Fannie May short sale closing.