source:
  type: guide
  id: fnma-sel-c3-1-02
  authority: Fannie Mae Selling Guide C3-1-02 — Preparing to Pool Loans into MBS
  description: Fannie Mae Selling Guide C3-1-02 — Preparing to Pool Loans into MBS.
  coverage_tier: operative
obligations:
- id: fnma-sel-c3-1-02-full
  canonical_id: fnma-sel-c3-1-02-full
  section: Fannie Mae Selling Guide C3-1-02 — Preparing to Pool Loans into MBS
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C3-1-02 — Preparing to Pool Loans into MBS
    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: 'C3-1-02, Preparing to Pool Loans into MBS (05/01/2019) Introduction
      This topic provides information on the steps lenders need to take before they
      can obtain MBS commitments and pool loans into MBS, including: Obtaining Approval
      to Deliver MBS Loans Selecting a Document Custodian Obtaining Approval to Deliver
      MBS Loans A lender must obtain approval for MBS execution and access to Fannie
      Mae’s MBS committing application before it can deliver mortgages into a single-lender
      MBS pool or a Fannie Majors. Fannie Mae considers a number of factors prior
      to oﬀering MBS execution to a lender. These factors include, but are not limited
      to, the following: the expertise of the lender’s management in securitization,
      whether the lender’s operational processes support MBS delivery and servicing
      requirements, Published May 6, 2026 981 the lender’s ability to manage and maintain
      a delivery process that ensures the delivery of accurate data to Fannie Mae,
      the lender’s prepayment speeds, and the lender’s performance against outstanding
      Fannie Mae obligations. Fannie Mae does not accept requests for MBS execution
      from lenders whose selling or servicing privileges have been suspended or that
      have not performed satisfactorily under other MBS commitments or contracts.
      Selecting a Document Custodian Lenders must select an eligible document custodian
      and have an executed Master Custodial Agreement (Form 2017) in place before
      obtaining an MBS commitment (see A3-3-04, Document Custodians). The document
      custodian certiﬁes, takes and retains actual physical possession of the custodial
      documents for the mortgages. Also, see the RDC guide for document custodian
      eligibility criteria, and Fannie Mae''s Active Document Custodians for a complete
      list of eligible custodians. Recent Related Announcements The table below provides
      references to recently issued Announcements that are related to this topic.
      Announcements Issue Date Announcement SEL-2019-04 May 01, 2019 Chapter C3-2,
      MBS Securitization Process Introduction This chapter provides information on
      the MBS securitization process, including loan parameters, transaction types,
      guaranty fees, buyups and buydowns, servicing fees, pricing, and funding.'
  judgment: false
