Rate Lock

Requirements

You must ensure the "Index Lock Expiration Date" in the Streamlined Treasury Lock Agreement (Form 6430.STLA) is the same as the Quote LetterQuote LetterFannie Mae response via DUS Gateway to your request for an interest rate quote on a Mortgage Loan, specifying: the breakdown of Total Credit Fees into the applicable Guaranty Fee, and Servicing Fee; and any other required terms and conditions. expiration date per Step 3 of the Streamlined Treasury Lock Process per Part IV, Chapter 3: Streamlined Rate Lock, Section 308.01: Description. 

On or before the Quote LetterQuote LetterFannie Mae response via DUS Gateway to your request for an interest rate quote on a Mortgage Loan, specifying: the breakdown of Total Credit Fees into the applicable Guaranty Fee, and Servicing Fee; and any other required terms and conditions. expiration date, you must enter into 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 Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. with Fannie Mae using the:

• Streamlined Rate LockStreamlined Rate LockOptional process permitting a Rate Lock before completing full Mortgage Loan underwriting, per Part IV, Chapter 3: Streamlined Rate Lock. option; or
• standard 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. option.

The held Investor SpreadInvestor SpreadRequired spread above the Index (excluding the Guaranty Fee and Servicing Fee) charged by the Investor purchasing the: Mortgage Loan; or MBS Mortgage Loan. and Total Credit Fee components of the Streamlined Treasury LockStreamlined Treasury LockOptional process permitting you to lock the Index and hold the Investor Spread and Total Credit Fees before entering into either a: Streamlined Rate Lock; or standard Rate Lock per Part IV, Chapter 2: Rate Lock and Committing, Section 202: Obtaining a Rate Lock. will be adjusted if Fannie Mae, at any time before 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. , determines that:

• the interest rate quote does not accurately reflect all material transaction-specific facts relating to the SponsorSponsorPrincipal equity owner and/or primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). , BorrowerBorrowerPerson who is the obligor per the Note. , Key PrincipalKey PrincipalPerson who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and/or may be required to provide a Guaranty. , and/or GuarantorGuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. , PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). , or other features or terms of the proposed Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. ; 
• the SponsorSponsorPrincipal equity owner and/or primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). , BorrowerBorrowerPerson who is the obligor per the Note. , Key PrincipalKey PrincipalPerson who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and/or may be required to provide a Guaranty. , and/or GuarantorGuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. , and PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). have not satisfied all assumptions, conditions, and other criteria set forth in the interest rate quote; 
• your final underwriting determines a Pricing and Underwriting TierPricing and Underwriting TierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). different from the basis of the Streamlined Treasury LockStreamlined Treasury LockOptional process permitting you to lock the Index and hold the Investor Spread and Total Credit Fees before entering into either a: Streamlined Rate Lock; or standard Rate Lock per Part IV, Chapter 2: Rate Lock and Committing, Section 202: Obtaining a Rate Lock. and Investor SpreadInvestor SpreadRequired spread above the Index (excluding the Guaranty Fee and Servicing Fee) charged by the Investor purchasing the: Mortgage Loan; or MBS Mortgage Loan. in the interest rate quote;
• your final underwriting determines the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. requires Additional DisclosureAdditional DisclosureInformation you provide that is published as an addendum to the disclosure documents when an MBS is issued and describes special Security, Mortgage Loan, or Property characteristics or terms that differ from those described in the standard Multifamily MBS Prospectus. per Form 4098; or
• any of the representations, warranties, statements, certificates, or other data and information provided by any of the SponsorSponsorPrincipal equity owner and/or primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). , BorrowerBorrowerPerson who is the obligor per the Note. , Key PrincipalKey PrincipalPerson who controls and/or manages the Borrower or the Property, is critical to the successful operation and management of the Borrower and the Property, and/or may be required to provide a Guaranty. , and/or GuarantorGuarantorKey Principal or other Person executing a Payment Guaranty, Non-Recourse Guaranty, or any other Mortgage Loan guaranty. to you or to Fannie Mae, including the statements made in the Streamlined Treasury Lock Agreement (Form 6430.STLA), was materially false or misleading as of the date given.

Requirements

If the BorrowerBorrowerPerson who is the obligor per the Note. fails to 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. the Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. with Fannie Mae by the Quote LetterQuote LetterFannie Mae response via DUS Gateway to your request for an interest rate quote on a Mortgage Loan, specifying: the breakdown of Total Credit Fees into the applicable Guaranty Fee, and Servicing Fee; and any other required terms and conditions. expiration date, the Streamlined Treasury LockStreamlined Treasury LockOptional process permitting you to lock the Index and hold the Investor Spread and Total Credit Fees before entering into either a: Streamlined Rate Lock; or standard Rate Lock per Part IV, Chapter 2: Rate Lock and Committing, Section 202: Obtaining a Rate Lock. may not be used for a different

• Mortgage LoanMortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. , or
• PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .