Purchase option where an eligible LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. can deliver individual Mortgage LoansMortgage LoansMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement. to Fannie Mae on an accelerated basis using a 2-stage delivery structure and the issuance of a Payment Obligation Confirmation (as defined in the ASAP Plus POC ContractASAP Plus POC ContractAgreement between an eligible Lender and Fannie Mae containing the terms and conditions of an ASAP Plus POC transaction.) before they are re-delivered to Fannie Mae for purchase pursuant to the applicable ASAP ContractASAP ContractASAP Sale Contract, the ASAP Plus Contract, and the ASAP Plus POC Contract..
ASAP Plus POC