Fannie Mae Selling Guide Chapter C2-1 — Mandatory and Best Efforts Commitments to Sell Whole Loans

fnma-sel-c2-1

Fannie Mae Selling Guide Chapter C2-1 — Mandatory and Best Efforts Commitments to Sell Whole Loans. Introduction, verbatim as published by Fannie Mae.

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Fannie Mae Selling Guide Chapter C2-1 — Mandatory and Best Efforts Commitments to Sell Whole Loans (introduction)

Chapter C2-1, Mandatory and Best Efforts Commitments to Sell Whole Loans Introduction As noted in this chapter, when a lender enters into a mandatory commitment to sell whole loans to Fannie Mae, the lender agrees to deliver a specified dollar amount of loans, within certain tolerances, to Fannie Mae by a specified future date. Fannie Mae agrees to purchase those loans at an agreed-upon price. With a best efforts commitment, the lender agrees to deliver a specific loan to Fannie Mae by a specified date if that loan closes. The first section in this chapter provides the details associated with obtaining and fulfilling mandatory commitments to sell whole loans; the second section addresses best efforts commitments; and the third section describes the use of Servicing Marketplace in selling whole loans to Fannie Mae.

Source: Fannie Mae Selling Guide Chapter C2-1 — Mandatory and Best Efforts Commitments to Sell Whole Loans (introduction) · source URL · snapshot 2897f21e1e729b42

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