source:
  type: guide
  id: fnma-sel-c1-2-04
  authority: Fannie Mae Selling Guide C1-2-04 — Delivering eMortgages to Fannie Mae
  description: Fannie Mae Selling Guide C1-2-04 — Delivering eMortgages to Fannie
    Mae.
  coverage_tier: operative
obligations:
- id: fnma-sel-c1-2-04-full
  canonical_id: fnma-sel-c1-2-04-full
  section: Fannie Mae Selling Guide C1-2-04 — Delivering eMortgages to Fannie Mae
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C1-2-04 — Delivering eMortgages to Fannie
      Mae
    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: 'C1-2-04, Delivering eMortgages to Fannie Mae (12/13/2023) Introduction
      This topic contains information about delivering eMortgages to Fannie Mae, including:
      Overview Delivering eMortgages to Fannie Mae Using MERS eDelivery Requirements
      to Transfer Control and Location of the eNote to Fannie Mae Transfer of Control
      and Location to the Warehouse Lender eNote Control Transfer and Custodial Agreement
      Certiﬁcation and Custody of eMortgages Loan Delivery Data Overview Lenders may
      deliver eMortgages for either whole loan or MBS execution. Fannie Mae accepts
      mixed MBS pools - ones that contain both paper notes and eNotes. eMortgages
      are delivered to Fannie Mae via the MERS eDelivery service. See MERS website
      for more information on MERS eDelivery. Delivering eMortgages to Fannie Mae
      Using MERS eDelivery Published May 6, 2026 937 The eNote and any documents required
      for certiﬁcation (for example, a power of attorney, if applicable) must be transmitted
      to Fannie Mae''s eVault via MERS eDelivery (or direct eDelivery for customers
      using Fannie Mae''s eVault provider). Fannie Mae will return an electronic approval
      message once the systems have accepted the document. Sellers are not required
      to use a document custodian to maintain other related loan documents unless
      otherwise required. For more information on delivering eMortgages, refer to
      Fannie Mae''s eMortgage Technical Requirements. Requirements to Transfer Control
      and Location of the eNote to Fannie Mae After the eNote has been successfully
      delivered to Fannie Mae, lenders (or their warehouse providers) should transmit
      a request to the MERS eRegistry to begin the process of transferring Control
      and Location (the location of the eNote''s current Authoritative Copy) of the
      eNote to Fannie Mae. A "Transfer of Control and Location" request must be transmitted
      to the MERS eRegistry to initiate the transfer of ownership and to update the
      MERS eRegistry to show Fannie Mae as the Controller and Location of the Authoritative
      Copy of the eNote. Lenders are expected to monitor the status of transfer requests
      to ensure they have been completed successfully. The transfer request must include
      an "Eﬀective Date" of the same day as the request. The Eﬀective Date is used
      by the MERS eRegistry to denote the date that the transfer must be complete.
      Fannie Mae requires that the MERS eRegistry records, for loans transferred to
      Fannie Mae, contain the Servicer''s MERS Org ID (or sub-servicer, if applicable)
      in the "Master Servicer" ﬁeld on the eRegistry in order to enable that party
      to perform certain transactions within the MERS eRegistry). (Note: If the Master
      Servicer is changing coincident with the sale to Fannie Mae, the update to this
      ﬁeld can be completed after completing the Transfer of Control and Location
      to Fannie Mae.) If prior to Fannie Mae purchasing the loan, the lender requires
      the eNote to be returned, the lender must submit a Request for Transfer of Control
      of eNotes (Form 2009e) to Fannie Mae''s Custodian Oversight Department (see
      E-1-02, List of Contacts). Transfer of Control and Location to the Warehouse
      Lender Lenders may originate or purchase eMortgages using interim funding from
      a warehouse provider in a manner that establishes the warehouse provider as
      lienholder of each related eNote and that shows the warehouse provider as being
      in Control of each related eNote at eMortgage settlement or that reﬂects the
      warehouse provider as the "Secured Party" in the MERS eRegistry for the related
      eNote. In order to facilitate Fannie Mae''s purchase or securitization of an
      eMortgage in which a warehouse provider has a security interest, the warehouse
      provider must perform (or cause to be performed) one of the two following actions
      depending on whether the warehouse provider is named as the Controller or as
      the "Secured Party" of an eNote. If the warehouse provider is in Control of
      an eNote prior to sale to Fannie Mae, the warehouse provider must transfer Control
      and Location of the related eNote to Fannie Mae, on the lender''s behalf, using
      the warehouse provider''s MERS Org ID for pre-purchase inspection, among other
      things. If the warehouse provider is named as the "Secured Party" in the MERS
      eRegistry on an eNote prior to sale to Fannie Mae, the warehouse provider must
      approve a Transfer of Control and Location to Fannie Mae that has been initiated
      by the lender, or the warehouse provider may itself (or through a designated
      agent) initiate a Transfer of Control and Location to Fannie Mae, on the lender''s
      behalf. At the conclusion of such transaction, Fannie Mae will be named in Control
      and Location and there will be no named entity in "Secured Party". Published
      May 6, 2026 938 Lenders and its warehouse providers must use Fannie Mae''s Loan
      Delivery application, in accordance with their respective agreements with Fannie
      Mae, to submit or validate wiring instructions for the account to which purchase
      proceeds (in the form of cash or MBS) for eMortgages covered by such interim
      funding agreements should be delivered. Lender authorizes Fannie Mae to deliver
      the purchase proceeds (in the form of cash or MBS) for eMortgages in accordance
      with such wiring instructions. eNote Control Transfer and Custodial Agreement
      In connection with delivery of funded eMortgages to Fannie Mae, warehouse providers
      must enter into an eNote Control Transfer and Custodial Agreement with Fannie
      Mae in which, generally, Fannie Mae accepts control of delivered eNotes until
      such time as: Fannie Mae makes payment and the warehouse provider releases its
      security interest, or Control of the eNotes is returned to the eRegistry participant
      that was previously in Control prior to Fannie Mae; provided that if there was
      a "Secured Party" named on the eNote prior to transfer to Fannie Mae, Fannie
      Mae will ﬁrst assign the applicable MERS Org ID to the "Secured Party" ﬁeld
      and then initiate the transfer. Lender authorizes Fannie Mae to take such actions.
      If, before Fannie Mae buys any eMortgages, Fannie Mae receives written notice
      from a warehouse provider that warehouse provider has exercised its right to
      acquire the eMortgage because of a default, lender authorizes Fannie Mae to
      transfer Control and Location of the related eNote to warehouse provider (or
      its designee). If Fannie Mae believes a party other than lender or the applicable
      warehouse provider has an interest in any eMortgage (or the related purchase
      price), lender agrees that Fannie Mae may, in its sole discretion, decline to
      purchase such eMortgage and notify lender and warehouse provider of such decision.
      In return for Fannie Mae''s accommodation of delivery of funded eNotes that
      are subject to warehouse lending arrangements and for Fannie Mae''s performance
      of certain obligations under the eNote Control Transfer and Custodial Agreement
      that are in the lender''s interest, the lender hereby agrees to indemnify and
      hold harmless Fannie Mae against all Fannie Mae losses (as deﬁned in A2-1-03,
      Indemniﬁcation for Losses) arising or resulting from any act or omission of
      lender or Fannie Mae (except those arising or resulting from Fannie Mae''s gross
      negligence or willful misconduct) made in connection with the terms of the eNote
      Control Transfer and Custodial Agreement. Certiﬁcation and Custody of eMortgages
      Fannie Mae provides in-house automated document certiﬁcation (auto-certiﬁcation)
      for eligible eNotes. For eNotes that cannot be auto-certiﬁed but are permitted
      to be sold to Fannie Mae, these will be routed for manual certiﬁcation by a
      document custodian. A document custodian interested in certifying eNotes on
      behalf of Fannie Mae must meet all of the eligibility requirements outlined
      in the Requirements for Document Custodians. Contact Fannie Mae''s Custodian
      Oversight Department (see E-1-02, List of Contacts) for additional information
      on certifying eNotes on behalf of Fannie Mae. Loan Delivery Data Lenders must
      perform the following process in addition to delivering the eMortgage through
      MERS eDelivery: Published May 6, 2026 939 Add the eNote Indicator ﬂag to the
      corresponding loan(s) in Fannie Mae''s Loan Delivery application which identiﬁes
      the loan as an eMortgage loan; and Perform the usual whole loan or MBS delivery
      through Fannie Mae''s Loan Delivery application. NOTE: If for any reason an
      eMortgage must be transferred back to the lender (for example, in the event
      of an error on the loan or transferred in error), the lender must submit Form
      2009e to Fannie Mae''s Custodian Oversight and Monitoring Department to request
      the transfer (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-2023-11 December 13,
      2023'
  judgment: false
