Section 404
| 404.01 | |
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Requirements
You must accurately complete all wiring instructions in C&D C&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. .
Operating Procedures
Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will wire the funds or MBS MBSMortgage-Backed Security per the C&D C&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. instructions. If there is a conflict between the C&D C&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. instructions and any bailee letter from your warehouse lender, then you must submit a change request in C&D C&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. .
| 404.02 | |
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Requirements
If you request, Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will assign wire transfer payee codes for your Cash Mortgage Loan Cash Mortgage LoanMortgage Loan purchased by Fannie Mae in exchange for cash. proceeds. You must
- request a separate payee code for each account to which Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will send funds, and
- enter the applicable payee code in C&D C&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. .
Operating Procedures
Each payee code will be associated with a specific account and financial institution. You may not transfer codes between your accounts or with other Lenders LendersPerson Fannie Mae approved to sell or service Mortgage Loans. .
See Seller’s Designation of Wire Transfers Instructions ( Form 482 ) for payee code information.