source:
  type: guide
  id: fnma-sel-c3-6-01
  authority: Fannie Mae Selling Guide C3-6-01 — Parameters for Pooling Loans Into
    Fannie Majors
  description: Fannie Mae Selling Guide C3-6-01 — Parameters for Pooling Loans Into
    Fannie Majors.
  coverage_tier: operative
obligations:
- id: fnma-sel-c3-6-01-full
  canonical_id: fnma-sel-c3-6-01-full
  section: Fannie Mae Selling Guide C3-6-01 — Parameters for Pooling Loans Into Fannie
    Majors
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C3-6-01 — Parameters for Pooling Loans Into
      Fannie Majors
    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: 'C3-6-01, Parameters for Pooling Loans Into Fannie Majors (09/04/2024)
      Introduction This topic contains general parameters for pooling loans into Fannie
      Majors, including: Fannie Majors Overview Obtaining Fannie Majors Pool Numbers
      Selecting Mortgages to Include in a Fannie Majors Pool Selecting a Settlement
      Date and Security Issuance Making Multiple Submissions Fannie Majors Overview
      Fannie Majors are pools of loans that are contributed by more than one lender.
      Lenders participating in a Fannie Majors pool receive an MBS representing its
      share of the pool in proportion to the dollar amount of mortgages it Published
      May 6, 2026 1008 contributed to the pool. Obtaining Fannie Majors Pool Numbers
      The pool number identiﬁes the pools in which a lender’s loans are included.
      Fannie Mae assigns Fannie Majors pool numbers based on loan term, pass-through
      rate, and the month of issuance. Pool numbers, CUSIP numbers, and pass-through
      rates are posted on the Fannie Majors page on Fannie Mae''s website and on the
      various wire services. Selecting Mortgages to Include in a Fannie Majors Pool
      When deciding which mortgages to include in a Fannie Majors pool, lenders must
      make sure that: the mortgage conforms to the appropriate product type, the mortgage
      has the appropriate seasoning, the note rate is within the minimum and maximum
      range in relation to the pass-through rate, and the minimum submission size
      is satisﬁed. To be eligible for a Fannie Majors pool, mortgages may be no older
      than 11 months as of the security issue date. For example, all loans to be included
      in a December 2019 pool, must have ﬁrst payment dates on or after January 2019.
      As with single-lender, ﬁxed-rate MBS pools, the minimum and maximum allowable
      interest rate within a Fannie Majors pool is 25 basis points (.25%) and 112.5
      basis points (1.125%) respectively above the pool’s pass- through rate. Lenders
      can use loan-level buyups and buydowns to eliminate excess servicing and, in
      the case of buydowns, include loans in a higher coupon. Fannie Majors have a
      minimum submission requirement of $1,000 when lenders deliver the loan to Fannie
      Mae. To qualify for a Fannie Mae Green Majors pool, loans must meet Green MBS
      eligibility standards and have an eligible green building certiﬁcation. See
      C1-2-05, Delivering Green MBS to Fannie Mae for additional details. Selecting
      a Settlement Date and Security Issuance Lenders may choose their own settlement
      date for a Fannie Majors pool. If a lender makes several submissions into the
      same Fannie Majors pool, it may select diﬀerent settlement dates for each. Fannie
      Mae can issue securities in book-entry form within three business days after
      the lender submits a complete, error-free pool documentation package via Loan
      Delivery, as long as Fannie Mae receives: the lender’s transmission of the loan
      delivery data by 6:00 p.m. (Eastern time), and the transmission of the document
      custodian’s pool certiﬁcation by 10:30 a.m. (Eastern time) on the day following
      the lender’s Loan Delivery transmission. See C3-7-06, Settling the Trade, for
      additional information on turnaround times. Published May 6, 2026 1009 A lender
      delivering into Fannie Majors receives securities rounded to the lowest whole
      dollar amount of the loans it contributed to the pool, unless it requests otherwise.
      Fannie Mae issues certiﬁcates in minimum denominations of $1,000 with additional
      increments of one dollar. Only one security denomination can be issued for each
      account. Making Multiple Submissions A lender may deliver several diﬀerent pieces
      for inclusion in a multiple pool (Fannie Majors) as long as all of the pieces
      have the same remittance cycle. This means that delivery of multiple servicer
      numbers per seller number is permitted in a Fannie Majors pool; however each
      piece must have one seller/servicer combination. In addition, each piece must
      be submitted separately and must meet the $1,000 minimum submission requirement.
      Fannie Mae will combine the submissions with the same branch seller/servicer
      number and remittance day into the same pool under the same lender. These loans
      must be serviced as one pool after issuance. The dollar amount of the lender’s
      securities will be equal to the sum of the issue date principal balances of
      all the mortgages from each of the lender’s pool documentation packages related
      to the multiple pool, rounded down to the next lowest whole dollar amount. Lenders
      may deliver nonstandard loans into Fannie Majors MBS pools. Each discrete delivery
      the lender makes under a given Fannie Majors TBA–eligible UMBS pool will be
      subject to the limitations that apply to a single TBA–eligible UMBS pool. See
      C3-2-01, Determining Eligibility for Loans Pooled into MBS for additional information.
      Recent Related Announcements The table below provides references to recently
      issued Announcements that are related to this topic. Announcement Issue Date
      Announcement SEL-2024-06 September 04, 2024 Announcement SEL-2019-09 December
      04, 2019 Announcement SEL-2019-04 May 01, 2019 Announcement SEL-2019-03 April
      03, 2019 Chapter C3-7, Delivering and Trading MBS Introduction Lenders that
      sell their MBS rather than hold them as an investment may work with Fannie Mae’s
      Capital Markets Published May 6, 2026 1010 Pricing and Sales Desk to obtain
      a competitive price. In this chapter, the steps entailed in delivering and trading
      MBS and the requirements associated with these processes are provided.'
  judgment: false
