308.03

Rate Lock Tolerance

Requirements

The 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. amount and Commitment AmountCommitment AmountAnticipated Mortgage Loan amount per the Commitment. must not be:

  • less than 90% 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. amount; or
  • more than 110% 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. amount.

For any 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. using a 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. :

Guidance

If you notified the Multifamily Trading DeskMultifamily Trading DeskTeam that: purchases and trades Cash Mortgage Loans and MBS Mortgage Loans for Fannie Mae's own account; and can be contacted at (888) 889-1118. of your intention to use the Dual Commitment OptionDual Commitment OptionFor a Streamlined Rate Lock Mortgage Loan trade with the Multifamily Trading Desk, your ability to increase the Mortgage Loan Rate Lock amount. per Part IV, Chapter 3: Streamlined Rate Lock, Section 307: Dual Commitment Option, and your final Underwriting ValueUnderwriting ValueValue of the Property determined by the Lender to size the Mortgage Loan per Part II, Chapter 2: Valuation and Income, Section 202: Appraisal and Valuation. supports a 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. amount greater than 110% 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. amount, you may use the Dual Commitment OptionDual Commitment OptionFor a Streamlined Rate Lock Mortgage Loan trade with the Multifamily Trading Desk, your ability to increase the Mortgage Loan Rate Lock amount. to 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 excess loan proceeds above 110% 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. amount.