You must request Fannie Mae’s outside counsel assignment before any transaction structuring discussions begin.
You must pay Fannie Mae's outside counsel fees and costs regardless of whether the transaction closes.
You may charge the BorrowerBorrowerPerson who is the obligor per the Note. for Fannie Mae’s outside counsel fees and costs.
For a Credit Enhancement InstrumentCredit Enhancement InstrumentAgreement between Fannie Mae and a Bond Trustee where Fannie Mae provides credit enhancement of a Credit Enhancement Mortgage Loan, Bonds issued to finance a Credit Enhancement Mortgage Loan, or an Interest Rate Hedge Agreement; and if applicable, a Bond liquidity facility. , you may choose to have Fannie Mae’s outside counsel
- prepare the Loan DocumentsLoan DocumentsAll documents evidencing, securing, or guaranteeing the debt obligation executed for a Mortgage Loan and approved by Fannie Mae. , and
- review title insurance and survey matters.
If Fannie Mae’s outside counsel performs these services:
- the counsel will only represent Fannie Mae, not you; and
- you will be responsible for the additional fees.