Credit Facility Initial Advances | Fannie Mae Multifamily Guide

Guide Update 24-04

: Credit Facility Initial Advances

Effective: 04/05/24

Print/Download Summary

Associated Documents:

Credit Facility Initial Advances (Redline).pdf

Summary of Changes:

HIGHLIGHTS
Effective for Mortgage Loans Committed as of April 5, 2024, implemented a new Commitment process for MBS Mortgage Loans in a Credit Facility's initial advance.

Primary Changes

Added a new Commitment process in Part IV, Chapter 6: Structured Transactions, Section 603: Commitment for MBS Mortgage Loans in a Credit Facility's initial advance. Before originating the Mortgage Loan, you must:

comply with the
- Job Aid for DUS Gateway Credit Facilities Commitment, and
- MSFMS Job Aid; and
use DUS Gateway to
- obtain a Commitment, and
- receive an Authorization to Close.

Questions

Please contact Elizabeth Redmond at [email protected] with any questions.