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Freddie mac partial release

Freddie mac partial release form 2025

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The document is an application form for borrowers seeking approval from Freddie Mac for a partial release or easement related to their mortgage-secured property. It includes sections for the borrower to specify the type of request, reasons, compensation details, potential impacts on property use and tenant leases, and any existing liens or judgments. The form also requires borrower and guarantor signatures to consent to the proposed transaction.

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Click ‘Get Form’ to open the Freddie Mac Partial Release Form in our platform.
Begin by filling in the Freddie Mac loan number, your name as the borrower, and the property address. Ensure all details are accurate to avoid processing delays.
In Part I, select the type of request you are making: either a partial release with or without compensation, or an easement. Provide a brief reason for your request in the designated field.
Next, specify any compensation amounts and describe any noncash considerations. This section is crucial for clarity on financial terms.
Answer questions regarding potential impacts on tenant leases and property desirability. Be thorough in your explanations to ensure compliance with Freddie Mac's requirements.
Finally, sign and date the form at the bottom. If applicable, have guarantors sign as well. Review all entries for accuracy before submission.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is Freddie Mac Form 71?

Freddie Mac 71A is a specific form used in the mortgage lending process for documenting borrower information and loan details related to financing.

What type of loan is a Freddie Mac loan?

In general, mortgage lending guidelines require that self-employed borrowers provide two years tax returns in order for them to be eligible to qualify for a residential mortgage loan.

What is IRS Form 91?

The purpose of Form 91 is to provide a standardized method for documenting income for self-employed borrowers applying for loans.

What is the purpose of the Freddie Mac?

Conventional Conforming Loans: Lenders that make conventional conforming loans typically sell them to the Government Sponsored Enterprises (GSEs) Freddie Mac or Fannie Mae, as the loans conform to the GSEs standards and meet loan amount limits set by the federal government.

What is a partial release form?

A partial release allows the release of a portion of the collateral from a mortgage after the borrower has paid down a certain amount of the loan. Lenders require proof of payment, a survey map, an appraisal, and a letter outlining the reason for the partial release.

Key Facts about the Application for Partial Release or Easement

Application Purpose

Types of Requests

Compensation Details

Impact on Property Use

Judgments and Liens Disclosure

Borrower Responsibilities

Guarantor Consent

Application Purpose

The form is used to apply for approval from Freddie Mac for a partial release or easement related to a mortgage secured by a property.

Types of Requests

Borrowers can request various types of releases or easements, including with or without compensation, and for purposes such as public utilities, shared access, or drainage.

Compensation Details

The application requires borrowers to specify the amount of cash and noncash compensation they expect to receive in connection with the request.

Impact on Property Use

Borrowers must describe how the proposed release or easement will affect both the future use of the property being released and the remainder of the property.

Judgments and Liens Disclosure

The form requires disclosure of any judgments or liens against the property, aside from the Freddie Mac mortgage, which must be supported by a recent title report.

Borrower Responsibilities

Borrowers agree to cover all costs associated with processing the application, including title examination and property inspections.

Guarantor Consent

The application includes a section where guarantors must consent to the execution of the application and any actions taken by Freddie Mac regarding it.

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