source:
  type: guide
  id: fnma-sel-c3-7-05
  authority: Fannie Mae Selling Guide C3-7-05 — Confirming Presettlement Information
  description: Fannie Mae Selling Guide C3-7-05 — Confirming Presettlement Information.
  coverage_tier: operative
obligations:
- id: fnma-sel-c3-7-05-full
  canonical_id: fnma-sel-c3-7-05-full
  section: Fannie Mae Selling Guide C3-7-05 — Confirming Presettlement Information
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C3-7-05 — Confirming Presettlement Information
    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: 'C3-7-05, Conﬁrming Presettlement Information (04/01/2009) Introduction
      This topic provides the steps entailed and the information the lender must provide
      to Fannie Mae prior to the security settlement date, including: Basic Requirements
      for Presettlement Information Required for Presettling Pools of Seasoned Mortgages
      Information Required for Presettling ARM MBS Basic Requirements for Presettlement
      When a lender sells MBS through the Capital Markets Pricing and Sales Desk,
      it must call the Desk to verify trade details no later than 3:00 p.m. (Eastern
      time) two business days before the settlement date. This is called the notiﬁcation
      date. If a lender needs to make any corrections or cancellations, it must call
      before 12:15 p.m. (Eastern time) on the notiﬁcation date to ensure that delivery
      can take place within two business days. If the call is received after this
      time, the delivery cannot take place until three business days after the notiﬁcation
      date. Fannie Mae will accept a fax transmission of the trade details as long
      as the lender notiﬁes the Desk in advance about the pending transmission and
      the transmission is received by 3:00 p.m. (Eastern time) on the notiﬁcation
      date. See Capital Markets Operations Collateral Management for fax number information
      E-1-02, List of Contacts. After the change or deletion of the payee code has
      been made, Fannie Mae mails the lender a list of its outstanding payee arrangements.
      Published May 6, 2026 1027 ✓ Requirements MBS pool number and the related CUSIP
      number Original pool balance (which is the face amount of the security) Pass-through
      rate (which is the “coupon” rate of interest that will be paid to the investor)
      Price (which is the dollar amount paid for the MBS) Trade date (which is the
      date on which the parties agree to the terms of the transaction) Settlement
      date (which is the date that the parties agreed the transfer of the securities
      and the payment of the purchase price would take place) Issue date (which is
      the ﬁrst day of the month in which the securities backed by the pool are issued)
      Any unique pool speciﬁcations (such as a Fannie Majors) Information Required
      for Presettling Pools of Seasoned Mortgages There may be some instances in which
      Fannie Mae requires a pool that is seasoned for two or fewer years to be treated
      as a “seasoned” pool. When this occurs, Fannie Mae will inform the lender during
      the oral conﬁrmation of the trade. For any pool that is treated as a “seasoned”
      pool, the lender must provide not only the information required above, but also
      the following additional information: ✓ Requirements Weighted-average maturity
      (which is the weighted-average of the remaining terms of the mortgages underlying
      the MBS as of the trade date) Weighted-average coupon (which is the weighted-average
      of the note rates of the mortgages underlying the MBS as of the trade date)
      Latest loan maturity (which is the maturity date of the latest maturing mortgage
      in the MBS) Published May 6, 2026 1028 ✓ Requirements Geographic concentration
      of the mortgages in the pool (if a concentration was speciﬁed at the time of
      the trade) Information Required for Presettling ARM MBS ARM MBS pools are backed
      by ARMs of any age. For an ARM MBS pool, the lender must provide not only the
      information required above (and the information for a seasoned pool above, if
      the pool is treated as a “seasoned” pool), but also the following additional
      information: ✓ Requirements Index on which the periodic interest rate adjustments
      for the underlying mortgages are based Periodic and lifetime interest rate caps
      for the underlying mortgages Periodic payment caps (if any) for the underlying
      mortgages MBS margin (which is the portion of the mortgage margin that is used
      to establish the pass- through rate for the pool on each interest rate change
      date) Interest rate change date (which is the date on which the interest rates
      for the underlying mortgages will be adjusted) Frequency of the interest rate
      adjustments for the underlying mortgages Applicability and terms of any conversion-to-ﬁxed-rate
      feature for the underlying mortgages Recent Related Announcements There are
      no recently issued Announcements related to this topic.'
  judgment: false
