The Freddie Mac tranmittal form includes government monitoring information for all loans. I have been told by our underwriting dept. that Freddie "requires" the transmittal of this information for all sold loans. Is anyone else aware of this? What about 1st mortgage loans where the purpose is NOT to purchase the home - ie. home is paid off and couple wants to mortgage it to pay for children's college expense. They want to go Freddie for the rate. In that instance, monitoring info. should not be collected. Would Freddie still require the information for transmission??? Thanks - I'm no Freddie expert!

I have serviced and underwritten Freddie Mac loans for 3 years and have always reported the monitoring information. As far as I know you have to collect the monitoring information on all Freddie Mac loans even if it is not HMDA reportable. The info may be used for self monitoring on Freddie's part and then it is acceptable to collect?? I don't know why but I know we always have. You could call 1-800-FREDDIE and ask them if it has to be reported on delivery.

Thanks - I'll call. My concern lies in a violation of Reg. B for collecting monitoring info. inappropriately on a non-covered loan.