801.05

Commitment

Operating Procedures

Steps You must...
1 Submit a CommitmentCommitmentContractual agreement between you and Fannie Mae where Fannie Mae agrees to buy a Mortgage Loan at a future date in exchange for an MBS, or at a specific price for a Cash Mortgage Loan, and you agree to Deliver that Mortgage Loan. request for the Credit Enhancement Mortgage LoanCredit Enhancement Mortgage LoanMortgage Loan financed by a Bond issuance where Fannie Mae provides credit enhancement by a Credit Enhancement Instrument, or an MBS for Bonds. through C&DC&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. within 24 hours after the Bond Purchase Agreement is executed.
2

Ensure the CommitmentCommitmentContractual agreement between you and Fannie Mae where Fannie Mae agrees to buy a Mortgage Loan at a future date in exchange for an MBS, or at a specific price for a Cash Mortgage Loan, and you agree to Deliver that Mortgage Loan. reflects the

 

  • BondBondTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. interest rate (for an MBS for BondsMBS for BondsFannie Mae MBS: issued to credit enhance tax-exempt Bonds; or exchanged for Bonds redeemed at MBS issuance. , the BondBondTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. interest rate equals the MBSMBSMortgage-Backed Security Pass-Through RatePass-Through RateMortgage Loan Gross Note Rate minus: for MBS Mortgage Loans, the Guaranty Fee, minus the Servicing Fee; and for Cash Mortgage Loans, the Servicing Fee. ),
  • term sheet attached to the Official Statement, and 
  • Credit Enhancement Commitment Letter terms, for a Credit Enhancement InstrumentCredit 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. .
3 Enter all information into C&DC&DElectronic committing and delivery system used for issuing and confirming Commitments for acquiring Mortgage Loans, or any such successor system. per the screen instructions and C&D User Manual.
4 Coordinate with Multifamily AcquisitionsMultifamily AcquisitionsTeam that can be contacted at [email protected]. to resolve any submission problems or discrepancies.

Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will evaluate your submission and, if appropriate, confirm the CommitmentCommitmentContractual agreement between you and Fannie Mae where Fannie Mae agrees to buy a Mortgage Loan at a future date in exchange for an MBS, or at a specific price for a Cash Mortgage Loan, and you agree to Deliver that Mortgage Loan. .