source:
  type: guide
  id: fnma-sel-c2-2-04
  authority: Fannie Mae Selling Guide C2-2-04 — Timing of Distribution of Whole Loan
    Purchase Proceeds
  description: Fannie Mae Selling Guide C2-2-04 — Timing of Distribution of Whole
    Loan Purchase Proceeds.
  coverage_tier: operative
obligations:
- id: fnma-sel-c2-2-04-full
  canonical_id: fnma-sel-c2-2-04-full
  section: Fannie Mae Selling Guide C2-2-04 — Timing of Distribution of Whole Loan
    Purchase Proceeds
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C2-2-04 — Timing of Distribution of Whole
      Loan Purchase Proceeds
    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: 'C2-2-04, Timing of Distribution of Whole Loan Purchase Proceeds
      (05/04/2022) Introduction This topic describes the timing of Fannie Mae’s funding
      of loans it purchases, including: Timing of Distribution of Proceeds for Regularly
      Amortizing Mortgages Impact of Late Submissions of Required Data and Documentation
      Early Funding Options Timing of Distribution of Proceeds for Regularly Amortizing
      Mortgages Fannie Mae will fund the purchase proceeds for whole loan deliveries
      of regularly amortizing mortgages provided the following procedure has already
      occurred: lender has electronically submitted clean, error-free loan delivery
      data through Loan Delivery by 9:00 p.m. (Eastern time), the document custodian
      has received a complete and accurate mortgage document submission package from
      a lender by ﬁrst morning delivery the following day, and the document custodian
      has certiﬁed the mortgage document submission package. Following the funding
      of the purchase proceeds the loan status in Loan Delivery will be "Purchased
      and Funded." Impact of Late Submissions of Required Data and Documentation If
      the required delivery data and documentation are not received by the applicable
      cutoﬀ time, Fannie Mae will disburse the purchase proceeds on the business day
      following the date it receives these materials, assuming they are in order and
      the mortgage is eligible for purchase. Published May 6, 2026 970 Early Funding
      Options Fannie Mae oﬀers approved lenders the ability to receive funding at
      earlier points in the process. For information on Fannie Mae’s Early Funding
      Options and Loan Delivery, the application lenders use to submit requests for
      early funding, see Fannie Mae’s website or contact the Capital Markets Pricing
      and Sales Desk (see E-1-02, List of Contacts). Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SEL-2022-04 May
      04, 2022 Announcement SEL-2019-04 May 01, 2019'
  judgment: false
