Freddie Mac Seller/Servicer Guide 4201.5: Principal amount advanced; no mandatory future advances; outstanding balance
The full principal amount of the Mortgage must have been disbursed or advanced to the Borrower or according to the direction of the Borrower.
Freddie Mac publishes the full text of this section: Freddie Mac Seller/Servicer Guide 4201.5 on the Freddie Mac website. Zeitro Strata answers questions about it with the passage and page cited.
Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.