Agency Update

1
Agency Update

• John T. DaughertySenior Director
• Operations Management Group
• Freddie Mac

2
Freddie Mac Agency Update

• Freddie Mac Will No Longer Directly Provide Note
• Certification and Custody Services
• Bank of New York Mellon Trust Company, N.A.
  (BNYM) will perform Note Certification and
  custody services as our Designated Custodian
• Transition period begins October 1, 2009
• Note and related documents held at Freddie Macs
  vault will be moved to a BNYMs Irving, Texas
  vault on or before October 1, 2009

3
Freddie Mac Agency Update

• Freddie Mac Will No Longer Directly Provide Note
• Certification and Custody Services
• Seller/Servicers must establish a custodial
  relationship with either the Designated Custodian
  or another third-party Document Custodian by
  October 1, 2009. The effective date of either
  such arrangement is referred to as the Custodial
  Agreement Effective Date.
• BNYM will perform Note certification and
  custodial services on behalf of Freddie Mac until
  the Custodial Agreement Effective Date.

4
Freddie Mac Agency Update

• Freddie Mac Will No Longer Directly Provide Note
• Certification and Custody Services
• Through September 30, 2009 for Sellers and
  Servicers currently using Freddie Macs Document
  Custodial Operations (DCO)Notes for Mortgages
  being sold to Freddie Mac or for which the
  Servicer acquires the Servicing, should continue
  to be delivered to DCO in accordance with
  existing Single-Family Seller/Servicer Guide
  (Guide) requirements.
• Servicers should continue to deliver supplemental
  documents, return previously released documents
  to and request release of documents from DCO in
  accordance with existing instructions.
• Notes may be in transit to BNYM, Servicers should
  provide as much notice as possible when
  requesting release of Notes to enable timely
  processing.

5
Freddie Mac Agency Update

• Freddie Mac Will No Longer Directly Provide Note
• Certification and Custody Services
• Between October 1, 2009 and the Custodial
  Agreement Effective Date
• BNYM, as Freddie Macs vendor/agent, will certify
  Notes for Mortgages delivered to Freddie Mac (in
  care of BNYM) and provide document custodial
  services for Notes in its custody.
• Sellers and Servicers are advised that there may
  be delays in certification, funding and other
  services if documents and/or requests are not
  delivered in accordance with the following
  instructions.

6
Freddie Mac Agency Update

• Freddie Mac Will No Longer Directly Provide Note
• Certification and Custody Services
• Between October 1, 2009 and the Custodial
  Agreement Effective Date, Sellers must
• Use the following address, when delivering Notes
  and related documents for certification to DCO
  Freddie Mac Document Custodial
  Operations c/o The Bank of New York Mellon Trust
  Company, N.A. 2220 Chemsearch Blvd., Suite
  150 Irving, TX 75062
• Direct questions related to Note Certification
  and other document custodial matters during this
  period by calling the BNYM Document Custody
  Support Line at [phone]

7
Freddie Mac Agency Update

• Freddie Mac Will No Longer Directly Provide Note
• Certification and Custody Services
• Between October 1, 2009 and the Custodial
  Agreement Effective Date, Sellers/Servicers must
• Direct inquiries related to contracting with a
  Document Custodian to Counterparty Credit Risk
  Management (CCRM) by e-mail to institutional_eligi
  bility_at_freddiemac.com or by calling the CCRM
  customer service line at [phone], Option
  2.
• Review the June 30, 2009 Guide Bulletin
  available at http//www.freddiemac.com/sell/guide/
  bulletins/pdf/bll0916.pdf for more details.

8
Agency Hot Topics

• Document Custodian Inventory Reconciliation
• What should be delivered for each vault location
• A list of nine-digit Freddie Mac loan numbers for
  all Freddie Mac owned Notes in your vault. No
  additional information should be included in the
  file.
• The file name should include the seven digit
  Custodian Number and the date the file was
  created.
• How the listing should be delivered
• The inventory listing should be delivered by
  e-mail (sodmgmt_at_freddiemac.com) or courier on
  compact disc. The file format should be text
  (.txt).
• Frequency
• Beginning 4th Quarter 2009, Document Custodians
  will required to deliver inventory lists on a
  quarterly basis, or more frequently at Freddie
  Macs discretion.
• E-mail notification to deliver the inventory list
  will be sent to the Document Custodian contact we
  have on file. Please be sure that you notify us
  if contact information changes.

9
Freddie Mac Agency Update

• Looking forward
• Ongoing assessment of our Document Custodian
  program to ensure requirements and policies best
  meet the needs of Freddie Mac and our customers
• Continue to review and refine requirements to
  ensure data integrity and physical security of
  our collateral
• Continue to rely on Document Custodians to
  perform data and documentation review and provide
  secure storage of mortgage Notes and associated
  documents
• Publication of Freddie Macs eMortgage Guide,
  which will provide eClosing and eVault systems
  requirements as well as eNote certification,
  safekeeping and servicing requirements.

10
Freddie Mac Agency Update

• Document Custodial Operations Contacts
• John T. Daugherty Sr. Director, Settlement
  Operationsjohn_daugherty_at_freddiemac.com(703)
  918-5770
• David Wilson Manager, Settlement
  Operationsdavid_wilson_at_freddiemac.com(703)
  918-8579
• Customer Management Technology Integration
• Philip Theis
• Customer Management Director
• philip_theis_at_freddiemac.com
• [phone]

11
Freddie Mac Agency Update

• Custodial Eligibility Contacts
• Pam WilliamsDirector, Counterparty Credit Risk
  Managementpam_williams_at_freddiemac.com(571)
  382-3455
• Amy OdiorneInstitutional Risk Analystamy_odiorne
  _at_freddiemac.com(571) 382-3936
• External Operational Risk Contacts
• Robert CopeDirector, External Operational Risk
  Managementrobert_cope_at_freddiemaccom(703)
  903-4305
• Michelle BakerManager, External Operational Risk
  Managementmichelle_baker_at_freddiemac.com(865)
  357-4784