Freddie Bankers Financial Reporting

On Feb. 1, Freddie issued bankers financial reporting requirements.

  • Freddie updated Seller/Servicer Guide 2101.5, Mortgage bankers financial reporting.
  • Set Form 1055A, Monthly mortgage bankers financial reporting short form, standards.
  • Follows Bulletin 2020-13 guidance on Form 1055 attestation issued Sep. 30, 2020.
  • Form 1055 Reporting
  • Each seller/servicer who is a mortgage banker must submit Form 1055 every quarter.
  • Defined mortgage bankers as firms other than federally insured depositories originating mortgages for sale in the secondary market and/or servicing mortgages.
  • Includes those who are mortgage subsidiaries of federally insured depositories.
  • Form must be completed for reporting periods ending Mar. 31, Jun. 30, or Sep. 30.
  • Filed no later than 30 days after the end of the reporting period; for reporting periods ending on Dec. 31, must be filed no later than 60 days after end of reporting period.
  • Seller/servicer’s Chief executive officer (CEO), Chief financial officer (CFO) or an equivalent officer must certify that the form was prepared in accordance with GAAP.
  • Form 1055A Reporting
  • Seller/servicer that completes Form 1055 and is a large non-depository institution or separately identified by Freddie via written notice, must complete Form 1055A.
  • Must file no later than the last day of the month following end of reporting month for 1st and 2nd months of each fiscal quarter; not required to report on each 3rd month.
  • Additionally, Form 1055A must be certified by the CEO, CFO, or equivalent officer.
  • Effectiveness
  • Guide revisions for monthly reporting with Form 1055A effective on Apr. 30, 2024.

Regulators Freddie
Entity Types Bank; CU; MG Orig; Servicer; Thrift
Reference Gd 2101.5, 2/1/2024; Form 1055, 1055A;
Functions Compliance; Financial; Legal; Operations; Reporting
Countries United States of America
Products Banking; Loan; Mortgage
Regions Am
Rule Type Final
Rule Date 2/1/2024
Effective Date 4/30/2024
Rule Id 200026
Linked to N/A
Reg. Last Update 2/1/2024
Report Section US Banking

Last substantive update on 02/05/2024