Fannie Mae Custodial Agreement
Form 2010 will cover certification and retention for both portfolio and MBS pool mortgages. Fannie Mae has selected BNYM as Fannie Mae`s designated document custodian for portfolio mortgages. Fannie Mae wanted a document manager who offered additional trust services, but did not grant, sell or serve as a mortgage. BNYM is able to offer certification and custody services for competitive fees with Fannie Mae`s existing fee structure for MBS loans, and they offer additional services requested by many Fannie Mae lenders. Interested sellers and service providers are encouraged to negotiate these additional services directly with BNYM. Failure to indicate the correct code may result in a delay in the certification and/or purchase of the wallet mortgage. Seller/Service is deemed ratified if it does not notify Fannie Mae of its objection to such correction within 24 hours of receipt of such notification from BNYM. Fannie Mae is the document custodian for entire loans or MBS loans provided in the form of eNotes, but has entrusted certain third parties with the certification of eNotes. The seller/service must use an authorized third party to certify Fannie Mae eNotes. New custodian design document for the certification and custody of portfolio mortgages Unless otherwise authorized by Fannie Mae, sellers/service providers who currently provide mortgage filing packages for portfolio mortgages to Fannie Maes Herndon, VA Agency, will be required to provide documents from 11 May 2009, send to BNYM at the address below….