1-4 Family Rider Assignment Of Rents Definition Of Autonomy

Riders

The Uniform Instruments provided below are the Fannie Mae/Freddie Mac and Freddie Mac Riders used when originating Single-Family residential mortgage loans, in all States and U. S. Territories. Freddie Mac encourages originators to use the Fannie Mae/Freddie Mac and Freddie Mac Single-Family Uniform Instruments whenever possible; however, Freddie Mac Seller/Servicers must use the applicable Single-Family Uniform Instruments for Mortgages delivered and sold to Freddie Mac.

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Resources > Glossary > 1-4 Family Rider (Assignment of Rents)

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1-4 Family Rider (Assignment of Rents)

Function: noun

The Family Rider transfers the owner's right to collect rents to the lender. Another interesting feature of the Family Rider is that it could stipulate that additional property is subject to the security instrument such as appliances or heating and cooling equipment. In addition, a Family Rider can prohibit additional liens. Rent loss insurance, and assignment of rents can also be part of a Family Rider.

Thesaurus / Related Terms
Assignment
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