Version Changes

Cash-Released XChange

Version Changes

We have updated the Cash-Released XChange User Guide (including its name, formerly known as,

o Lakeview Loan Servicing, LLC – Assignment Endorsement Question contact info

• Chapter 7:

o Lakeview Loan Servicing, LLC – Primary Contact Information

• Chapter 8:

o Lakeview Loan Servicing, LLC – All Other Issues & Report Loan Acquisition Scheduled

UPB Errors contact info

• Chapter 11:

. Please

make sure the appropriate teams in your organization, including Loan Delivery and Shipping, have

access to the User Guide and are aware of this update.

For questions, please contact your Freddie Mac representative or the Customer Support Contact Center

(800-FREDDIE)

This information is not a replacement or substitute for the requirements in the Freddie Mac Single-Family

Seller/Servicer Guide and your other Purchase Documents.

© 2023 Freddie Mac Freddie Mac Learning

These materials are designed for Freddie Mac Sellers who are approved to sell mortgages through Cash-

Released XChange

Cash-Released XChange

?

o Submit Post-Fund Data Corrections

o Enter escrow and buydown funds information

Borrower Mailing Address Information

3 – 11 Servicing Transfer Instructions

12 Checklists and Forms

Loan Selling Advisor is Freddie Mac’s online system for selling and delivering mortgages. It integrates all

secondary market functions from pricing to funding, helps you deliver mortgages to Freddie Mac under a

Released XChange program, the Seller as Transferor Servicer, assigns the Servicing Contract Rights to

the Servicer as Transferee Servicer. Refer to the Glossary

in the Freddie Mac Single-Family

Seller/Servicer Guide for definitions.

Sellers participating in Cash-Released XChange must comply with requirements as set forth in the

Freddie Mac Single-Family Seller/Servicer Guide (Guide) and Purchase Documents. For specific

information relating to general sale, delivery, and servicing requirements for mortgages sold under Cash-

Released XChange, refer to the Guide chapters below:

• Guide Chapter 6302

When mortgages are sold for cash under Cash-Released XChange, Freddie Mac arranges for a Servicer,

as identified by Freddie Mac, to accept a Transfer of Servicing from the Seller simultaneously with the

sale of the mortgage to Freddie Mac.

The Freddie Mac Settlement Date (hereafter referred to as the Funding Date or “sale date”) is the date on

which Freddie Mac purchases the mortgage and creates the Servicing Contract Rights (SCRs) that are

assigned by the Seller to the Servicer concurrently with the sale of the mortgage from the Seller to

Freddie Mac. The Seller’s SCRs, including its right to any portion of the servicing spread or any other

upon the sale of the mortgages to Freddie Mac.

Guide Exhibit 28A outlines the terms and conditions under which mortgages are sold to Freddie Mac

through Cash-Released XChange. It, along with this user guide, identifies the Seller’s obligation after the

sale date and describes fees incurred by the Seller for late and incorrect deliveries and loans

repurchased:

• Loan Information: Provide available computer or like records requested by Servicer reflecting

service fees, transaction fees and other funds due the Servicer) from the proceeds of sale for each

Freddie Mac from the Seller to the Servicer on the funding date. See Guide Section 6101.7

Escrow funds are entered into Loan Selling Advisor by the Seller. Note, Freddie Mac does not validate

the amounts entered. If the borrower’s monthly mortgage payment includes escrow amounts, you will

have entered the total amount of escrow funds collected from the borrower at closing, less the aggregate

amount in the Other Funds Collected at Closing Detail section of the Create/Modify loan page. The

aggregate amount represents any disbursements due the collection authority 60 days after the Transfer

of Servicing.

Unapplied Temporary Buydown Subsidy funds are entered into Loan Selling Advisor by the Seller, and

the accuracy of these amounts is not validated by Freddie Mac. If the mortgage was originated with a

) of the month. When the Servicer is due the interest, it is identified as an Interest

Adjustment. The Accrued Interest is due the Seller and the Interest Adjustment is due the Servicer under

the following circumstances:

• When the Freddie Mac Funding Date is not the first of the month and occurs in the same month

• When the Funding Date occurs in the month prior to the DDLPI date, the Servicer is due the

Servicing Spread .250% Servicing Spread .250%

Funding Date 10/01/2023 Funding Date 10/12/2023

LPIDD (DDLPI) 10/01/2023 LPIDD (DDLPI) 10/01/2023

Scheduled First Payment Due Date 11/02/2023 Scheduled First Payment Due Date 12/01/2023

No interest is due to the Servicer because the

Funding Date occurred between the first and 10th

of the month, so there is a zero-dollar funding

adjustment. The Servicer collects a payment from

the borrower prior to their first reporting cycle to

The Servicing Spread adjustment is compensation for servicing mortgages for Freddie Mac. This amount

is calculated by Freddie Mac as follows:

• When the Funding Date occurs in the month prior to the DDLPI date, the Servicer is due the

Scenario A = Seller is due the Servicing

Scenario B = Servicer is due the Servicing

Loan Details: Loan Details:

Loan Acquisition UPB Amount $137,000 Loan Acquisition UPB Amount $137,000

Note Rate Percent 7.500% Note Rate Percent 7.500%

Accounting Net Yield 7.250% Accounting Net Yield 7.250%

Servicing Spread .250% Servicing Spread .250%

The tax service fee is $80 and is subject to change without notice at the Servicer’s discretion. This fee is a

funding adjustment deducted from your sales proceeds, and it is transferred to the Servicer by Freddie Mac.

The transaction fee of $150 (which is subject to change without notice at the Servicer’s discretion) is due

servicing. It is deducted from your sales proceeds and transferred to the Servicer by Freddie Mac.

The Loan Purchase Statement and the Funding Details Report are referred to as “settlement statements.”

They confirm loan funding and the total disbursement to the Seller and the Servicer. The statements are

available in Loan Selling Advisor on the Funding Date:

• Assist you and the borrower in tracking the loan with the Servicer.

To learn how to export this data field, refer to the following resources:

• Export Data

job aid and refer to the tips on pages 9 and 10

• Export Delivery Data tutorial on how to export data and create a custom data set

• Implementation Guide for Loan Selling Advisor Export (Phase 4a) – Sellers [XLSX]

See below for an example of the Summary Data MISMO 3.0 data set and the location of the Servicer-

Delivered Servicer Loan Identifier:

Cash-Released XChange Sellers have the option to select a preferred Document Custodian when selling

loans to Freddie Mac through Loan Selling Advisor. A preferred Document Custodian may be one of the

• Bank of New York Mellon (BNYM) (Freddie Mac’s Designated Custodian)

• U.S. Bank, National Association

See Chapter 3 for information and tips for requesting a preferred document custodian.

Any Borrower who is a participant in a State-sponsored ACP may use their substitute mailing address

Paid Installment Due Date

is 04/01/2023 and the Note

date is 03/01/2023.

month following funding,

whether or not the payment(s)

was collected.

Funding Date is

04/11/2023 and the Last

Paid Installment Due Date

is 04/01/2023 and the Note

date is 03/01/2023.

Advance the Last Paid

Installment Due Date

(formerly known as DDLPI)

When amortizing down a

collections, you must include

Include a payment history in

the transfer of servicing file to

the Servicer.

Installment Due Date

(known as DDLPI) is

04/01/2023 and the Note

adjustments are needed.

For additional information you may also refer to Guide Section 6302.26

and Loan Selling Advisor page

level help, Calculate Loan Acquisition Scheduled UPB Amount.

The illustration below displays the ULDD data points for the Loan Acquisition Scheduled UPB Amount

(Sort ID 385) and the Last Paid Installment Due Date (also referred to as the DDLPI) Sort ID 440)).

For mortgages with full or partial escrow collections, the Seller must complete all required escrow

information. The procedure below illustrates how to enter escrow loan data in Loan Selling Advisor’s

create and/or modify loan page.

1. From the Create/Modify Loan page, go to the Origination Details section.

2. Go to the Escrow Indicator field and click the drop-down menu to select True for loans with full or

5. Next, enter the Escrow Balance Amount. The amount entered in this field must equal the amount

Seller must complete information in the section titled Other Funds Collected At Closing. These are

servicing released adjustments that are automatically deducted/netted (on the Funding Date) from the

amount disbursed to the Seller and are simultaneously wired to the Servicer.

The procedure below illustrates how to enter data in Other Funds Collected at Closing Details section of

Loan Selling Advisor’s create and/or modify loan page.

1. From the Create/Modify Loan page, go to the Other Funds Collected at Closing Details section.

2. Click the check box next to Other Funds Collected at Closing Type (Sort ID 158,159)

3. Click the drop-down menu for Other Funds Collected at Closing Type (Sort ID 158,159) and

• Pay the amount due

The primary Borrower’s mailing address may be different from the subject property address for the

1. From the Create/Modify Loan page, go to the Borrower Mailing Address (Borrower 1) section.

2. If the primary Borrower’s mailing address is not the same as the subject property address, set the

3. If the Borrower’s mailing address is the same as the subject property address, set the Borrower

All post funding data corrections for loan origination and delivery data submitted through Loan Selling

Advisor must be submitted through the automated Post-Fund Data Correction tool (the Tool). Use the

tool, to:

• Import correction requests or manually enter them

• Submit corrections and proactively manage and receive responses to your submissions

The following user roles are available for submitting post-funding data corrections:

• Seller Analyst

• Seller Manager

• Seller Read Only

Log into Access Manager

to obtain access to the Tool. After receiving your user login credentials, log into

the Tool at https://sg.freddiemac.com and select the Post-Fund Data Correction Tool from the My Tools

tab.

The following training resources are available:

• Post-Fund Data Correction Tool: System Overview tutorial