Section 602
| 602.01 | |
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Operating Procedures
Fannie Mae will issue a Structured Transaction ApprovalStructured Transaction ApprovalFannie Mae approval of a Structured Transaction outlining the terms, conditions, pricing, and fees. outlining the terms and conditions governing the Structured Transaction including pricing and certain fees.
| 602.02 | |
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Operating Procedures
You must contact the Fannie Mae Deal TeamFannie Mae Deal TeamTeam responsible for reviewing Pre-Review Mortgage Loans, waivers, etc. to modify any expiration date in the Structured Transaction ApprovalStructured Transaction ApprovalFannie Mae approval of a Structured Transaction outlining the terms, conditions, pricing, and fees. .
| 602.03 | |
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Operating Procedures
The Structured Transaction ApprovalStructured Transaction ApprovalFannie Mae approval of a Structured Transaction outlining the terms, conditions, pricing, and fees. outlines all fees and payment due dates.
By each payment due date you must
- wire the fee to Fannie Mae, or
- have it drafted, if instructed by Fannie Mae.
| 602.04 | |
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Operating Procedures
You must:
- comply with Part IV, Chapter 2: Rate Lock and Committing, Section 201: Pre-Commitment; and
- obtain a Rate LockRate LockAgreement between you and the Investor containing the terms of the Lender-Arranged Sale or Multifamily Trading Desk trade of the Mortgage Loan and the MBS terms and conditions relating to the underlying MBS, if applicable, which may be documented via a recorded telephone conversation.
for the Structured Transaction per
- Part IV, Chapter 2: Rate Lock and Committing, Section 202: Obtaining a Rate Lock, and
- the Structured Transaction ApprovalStructured Transaction ApprovalFannie Mae approval of a Structured Transaction outlining the terms, conditions, pricing, and fees. .
| 602.05 | |
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Operating Procedures
The Fannie Mae Deal TeamFannie Mae Deal TeamTeam responsible for reviewing Pre-Review Mortgage Loans, waivers, etc. will give you the name and contact information for your assigned internal and outside counsel.
Fannie Mae’s outside counsel will prepare all Structured Transaction Loan DocumentsStructured Transaction Loan DocumentsDocuments executed for a Structured Transaction, including a Master Credit Facility or Bulk Delivery Agreement, an Interest Rate Hedge Agreement, and all other required Loan Documents. .