Rate Lock

Operating Procedures

You must 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 and the Structured Transaction ApprovalStructured Transaction ApprovalFannie Mae approval of a Structured Transaction outlining the terms, conditions, pricing, and fees. .