source:
  type: guide
  id: fnma-sel-c2-1.2-02
  authority: Fannie Mae Selling Guide C2-1.2-02 — Best Eﬀorts Commitment Pricing,
    Periods, and Fees
  description: Fannie Mae Selling Guide C2-1.2-02 — Best Eﬀorts Commitment Pricing,
    Periods, and Fees.
  coverage_tier: operative
obligations:
- id: fnma-sel-c2-1.2-02-full
  canonical_id: fnma-sel-c2-1.2-02-full
  section: Fannie Mae Selling Guide C2-1.2-02 — Best Eﬀorts Commitment Pricing, Periods,
    and Fees
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C2-1.2-02 — Best Eﬀorts Commitment Pricing,
      Periods, and Fees
    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: 'C2-1.2-02, Best Eﬀorts Commitment Pricing, Periods, and Fees
      (03/03/2021) Introduction This topic provides information on best eﬀorts commitments,
      including: Best Eﬀorts Commitment Pricing Best Eﬀorts Pair-oﬀ Fees and Duplicate
      Commitment Price Adjustments Best Eﬀorts Commitment Periods and Extension Fees
      Best Eﬀorts Commitment Pricing As is the case with mandatory whole loan commitments,
      Fannie Mae oﬀers lenders a “live” price in Fannie Mae’s whole loan committing
      application as its purchase price for loans delivered via best eﬀorts commitments.
      Live prices move throughout the day, generally in tandem with the MBS market.
      Fannie Mae may charge fees or make pricing adjustments in conjunction with a
      best eﬀorts commitment. See also C1-1-01, Execution Options. Best Eﬀorts Pair-oﬀ
      Fees and Duplicate Commitment Price Adjustments Under the best eﬀorts commitment
      option, generally a pair-oﬀ fee will not be assessed for commitments that fallout
      due to: cancellation of an applicant''s rate lock, as long as the cancellation
      results from an applicant withdrawal or lender declination; or a change to the
      product type or key data which results in a change of the committed loan from
      a loan eligible for a best eﬀorts commitment to a loan ineligible for a best
      eﬀorts commitment. A pair-oﬀ fee will be assessed for commitments where the
      fallout event is due to a failure, for any reason, to Published May 6, 2026
      958 deliver the closed and committed loan to Fannie Mae, including when a lender
      (or a third-party originator who originates in the lender''s name) has solicited
      new pricing and committed or sold the loan to Fannie Mae or another investor.
      Fannie Mae may cancel a commitment and charge a pair-oﬀ fee in the event the
      property address is missing or ﬁctitious or in the event the identical property
      address is used to enter into multiple commitments. A duplicate commitment price
      adjustment will be assessed in the event a lender delivers a loan to Fannie
      Mae against any other (duplicate) commitment(s) for the same borrower and property
      address committed prior to or within 30 days of the original commitment''s fallout
      or expiration date (the earlier of the two). Best Eﬀorts Commitment Periods
      and Extension Fees As is the case with mandatory commitments, best eﬀorts commitment
      periods may be as short as one day and as long as 90 days. Lenders may extend
      commitments on or before the original commitment expiration date for up to a
      maximum of 30 days for a fee. Lenders may request multiple extensions as long
      as the total extension period is not longer than 30 days. A best eﬀorts commitment
      with a “Closed” loan status will automatically extend for ﬁve calendar days
      until the loan is purchased or the commitment has been extended for a maximum
      of 60 calendar days from the original expiration date. After a commitment has
      reached its maximum allowed auto-extension period, the whole loan committing
      application will automatically pair oﬀ the “Closed” status commitment. Fannie
      Mae will notify lenders via the whole loan committing application of fees associated
      with extending the commitment period. Once notice is given, payment of the fee
      becomes an absolute obligation. Note: All committing fees and post purchase
      price adjustments will be drafted from the lender’s draft account with Fannie
      Mae. All draft fees can be viewed on Fannie Mae’s website. Recent Related Announcements
      The table below provides references to the Announcements that have been issued
      that are related to this topic. Announcements Issue Date Announcement SEL-2021-02
      March 03, 2021'
  judgment: false
