Section 1802

Outside Counsel

1802.01

Engagement

Requirements

You must request Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ’s outside counsel assignment before any transaction structuring discussions begin.

Operating Procedures

To request Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ’s outside counsel assignment, submit a Counsel Designation Request ( Form 4625.B ) to [email protected].

Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! selects its own outside counsel but may consider your request for a specific counsel.

1802.02

Fees

Requirements

You must pay Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! 's outside counsel fees and costs regardless of whether the transaction closes.

Guidance

You may charge the Borrower BorrowerPerson who is the obligor per the Note. for Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ’s outside counsel fees and costs.

For a Credit Enhancement Instrument Credit Enhancement InstrumentAgreement between Fannie Mae and a Bond Trustee where Fannie Mae provides credit enhancement of a Credit Enhancement Mortgage Loan, Bonds issued to finance a Credit Enhancement Mortgage Loan, or an Interest Rate Hedge Agreement; and if applicable, a Bond liquidity facility. , you may choose to have Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ’s outside counsel

  • prepare the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , and
  • review title insurance and survey matters.

If Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ’s outside counsel performs these services:

  • the counsel will only represent Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! , not you; and
  • you will be responsible for the additional fees.