source:
  type: guide
  id: fnma-sel-c2-1.1-04
  authority: Fannie Mae Selling Guide C2-1.1-04 — Mandatory Commitment Extensions
    and Pair-Oﬀs
  description: Fannie Mae Selling Guide C2-1.1-04 — Mandatory Commitment Extensions
    and Pair-Oﬀs.
  coverage_tier: operative
obligations:
- id: fnma-sel-c2-1.1-04-full
  canonical_id: fnma-sel-c2-1.1-04-full
  section: Fannie Mae Selling Guide C2-1.1-04 — Mandatory Commitment Extensions and
    Pair-Oﬀs
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C2-1.1-04 — Mandatory Commitment Extensions
      and Pair-Oﬀs
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'C2-1.1-04, Mandatory Commitment Extensions and Pair-Oﬀs (05/30/2017)
      Introduction This topic provides details on lender-requested and automatically-generated
      extensions and pair-oﬀs, including: Overview Lender-Requested Commitment Extensions
      Fannie Mae-Implemented (Automatic) Commitment Extensions Lender-Requested Pair-oﬀs
      Fannie Mae-Implemented (Automatic) Pair-oﬀs Additional Resources Overview Under
      certain circumstances, lenders may extend or pair oﬀ a mandatory whole loan
      commitment. In addition, in certain circumstances, Fannie Mae will automatically
      extend commitment periods and pair oﬀ commitment balances. For information on
      the fees associated with these activities, see C2-1.1-02, General Information
      about Mandatory Commitment Pricing and Fees. Lender-Requested Commitment Extensions
      Lenders may extend commitments on or before the original commitment expiration
      date for up to a maximum of 30 days from that date. They may request multiple
      extensions as long as the total extension period is no longer than 30 days.
      Each request must be made before the contract expiration date in eﬀect following
      the previous extension. See C2-1.1-02, General Information about Mandatory Commitment
      Pricing and Fees, for information on the fees associated with a lender-requested
      extension. Lenders may extend the entire outstanding commitment balance or a
      portion of it, if the lender also requests a partial pair-oﬀ of the remaining
      balance. The sum of the extended amount and the paired-oﬀ amount must equal
      the total remaining commitment amount. Published May 6, 2026 951 Lenders may
      request extensions in Fannie Mae’s whole loan committing application or through
      the Capital Markets Pricing and Sales Desk between 8:15 a.m. and 10:00 p.m.
      (Eastern time) on any business day (see E-1-02, List of Contacts). All telephone
      conversations are voice-recorded. Lenders should maintain detailed records of
      the contract extensions requested. Fannie Mae-Implemented (Automatic) Commitment
      Extensions If a lender fails to meet Fannie Mae’s good delivery requirement
      within the original commitment period and has not previously extended the commitment,
      Fannie Mae will automatically extend it. Commitments expiring with outstanding
      unpaid principal balances will be automatically extended a minimum of ﬁve calendar
      days and assessed the appropriate extension fee. See C2-1.1-02, General Information
      about Mandatory Commitment Pricing and Fees, for information on the fees associated
      with an automatic extension. If no deliveries have been made by the expiration
      of the ﬁve-day extension, Fannie Mae will eﬀect an automatic pair-oﬀ and the
      appropriate fee assessed and drafted from the lender’s designated account. Lender-Requested
      Pair-oﬀs A lender may purchase (pair oﬀ) all or part of a mandatory delivery
      commitment in the whole loan committing application or by contacting the Capital
      Markets Pricing and Sales Desk between 8:15 a.m. and 5:00 p.m. (Eastern time),
      if it is unable to satisfy Fannie Mae’s minimum delivery requirement. The request
      can be made at any time between the date on which the commitment was executed
      and the date on which it expires. The lender can obtain a new quotation later,
      but before the commitment expiration date, to avoid an automatic extension and
      the possible assessment of an automatic pair-oﬀ fee. After Fannie Mae veriﬁes
      the information required for calculating a pair-oﬀ fee, it will provide the
      lender with a fee quotation through either the whole loan committing application
      or through the Capital Markets Pricing and Sales Desk. The quotation may be
      for a pair-oﬀ fee to be paid by the lender or, if the transaction is eligible
      for a cash back pair-oﬀ, it may be for an amount due to the lender by Fannie
      Mae. The lender must accept the quotation within a short time frame if it wants
      to exercise the pair-oﬀ. Conﬁrmation of the pair-oﬀ can be obtained in the whole
      loan committing application. In conjunction with a lender-requested pair-oﬀ,
      if the whole loan price at commitment is greater than the price at the time
      of the pair-oﬀ solely as a result of market ﬂuctuations (and not from any other
      cause, including product-related pricing changes implemented by Fannie Mae),
      then Fannie Mae will not charge a lender a pair- oﬀ fee but will provide cash
      back to the lender (known as a cash back pair-oﬀ). The lender is not eligible
      for a cash back pair-oﬀ on a commitment if the commitment gets paired oﬀ through
      the automatic pair-oﬀ process, and the mortgage products delivered under the
      commitment are deemed by Fannie Mae, in its sole discretion, to be ineligible
      per the Selling Guide. Additionally, negotiated transactions with the Capital
      Markets Pricing and Sales Desk and commitments that exceed the daily volume
      limit may not be eligible for cash back pair-oﬀs. Though lenders are generally
      eligible to receive cash back on pair-oﬀs upon approval to transact business
      in the whole loan committing application, Fannie Mae may decline to activate
      a lender for cash back pair-oﬀs if, in Published May 6, 2026 952 Fannie Mae’s
      sole discretion, the lender’s anticipated business strategy does not align with
      Fannie Mae’s use of the cash back pair-oﬀ process. Additionally, if any of the
      following events occur, Fannie Mae may immediately terminate a lender’s eligibility
      for cash back pair-oﬀs: Fannie Mae, in its sole discretion, determines that
      the lender is obtaining commitments without the intent to deliver; there is
      any suspension of the lender’s selling privileges under the Master Selling and
      Servicing Contract (MSSC); or the lender’s MSSC is terminated. Termination will
      be eﬀective as to any new or outstanding commitments as of the eﬀective date
      of the termination. Fannie Mae-Implemented (Automatic) Pair-oﬀs Fannie Mae automatically
      pairs oﬀ the entire remaining commitment balance for any expired, unfulﬁlled
      mandatory commitment that has been previously extended, although Fannie Mae
      will ﬁrst process any mortgage deliveries pending in its purchase pipeline.
      Additional Resources See C2-1.1-02, General Information about Mandatory Commitment
      Pricing and Fees, for information on the fees associated with a lender-requested
      pair-oﬀ, calculating cash back amounts, and the fees associated with an automatic
      pair-oﬀ. Recent Related Announcements There are no recently issued Announcements
      related to this topic.'
  judgment: false
