source:
  type: guide
  id: fnma-sel-a3-3-04
  authority: Fannie Mae Selling Guide A3-3-04 — Document Custodians
  description: Fannie Mae Selling Guide A3-3-04 — Document Custodians.
  coverage_tier: operative
obligations:
- id: fnma-sel-a3-3-04-full
  canonical_id: fnma-sel-a3-3-04-full
  section: Fannie Mae Selling Guide A3-3-04 — Document Custodians
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide A3-3-04 — Document Custodians
    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: 'A3-3-04, Document Custodians (05/04/2022) Introduction This
      topic provides general information on document custodians, including: General
      Requirements Selection of a Document Custodian Documentation of the Relationship
      Additional Seller/Servicer Obligations Related to Document Custodians General
      Requirements Certain documents related to Fannie Mae loans must be held by a
      Fannie Mae-approved document custodian. The document custodian is acting on
      behalf of the seller/servicer and Fannie Mae when certifying loan documents
      and data at the time of acquisition by Fannie Mae. The roles and responsibilities
      of the document custodian are described in the Fannie Mae Requirements for Document
      Custodians (RDC guide). Selection of a Document Custodian For whole loans and
      MBS loans (excluding eNotes), the seller/servicer must use one of Fannie Mae''s
      active document custodians. For whole loans or MBS loans delivered as eNotes,
      Fannie Mae is the document custodian but has designated certain third parties
      to certify eNotes. The seller/servicer must use an approved third party to certify
      eNotes to Fannie Mae. Fannie Mae may require a seller/servicer or document custodian
      to transfer documents to a diﬀerent document custodian, even if the current
      custodian satisﬁes Fannie Mae''s requirements. Refer to Fannie Mae''s Active
      Document Custodians for a complete list of eligible document custodians. Documentation
      of the Relationship The seller must add the document custodian to its proﬁle
      within the Loan Delivery application. For all mortgage loans, the document custodian
      will certify the loans through the Document Certiﬁcation application. Each custodian
      arrangement must be evidenced by the execution of a Master Custodial Agreement
      (Form 2017). Form 2017 covers custodial arrangements for both whole loans and
      MBS loans. The seller/servicer sends Published May 6, 2026 116 the completed
      Form 2017 to the document custodian for execution. Upon receipt, the document
      custodian will send the seller/servicer ancillary documentation for completion.
      After the documentation and onboarding are complete, Fannie Mae and the document
      custodian will execute Form 2017. A copy of the fully executed Form 2017 will
      be returned to the seller/servicer for its records. Additional Seller/Servicer
      Obligations Related to Document Custodians The following table contains additional
      seller/servicer responsibilities regarding document custodians. Topic Description
      General Responsibilities The seller/servicer is responsible for the safekeeping
      of all documents required by Fannie Mae to be held by the document custodian
      and for all losses incurred by Fannie Mae because the document custodian it
      selected failed to perform its ﬁduciary responsibilities. Fannie Mae may also
      require the document custodian to make Fannie Mae whole if the document custodian
      breaches its ﬁduciary obligations to Fannie Mae. Seller/Servicer’s Compensation
      of the Document Custodian The seller/servicer must pay all fees and charges
      of the document custodian. Fannie Mae is under no obligation to pay compensation
      to the document custodian. Published May 6, 2026 117 Topic Description Monitoring
      A seller/servicer must establish appropriate methods for monitoring the ﬁnancial
      viability and operational capabilities of any document custodian it uses, which
      include, at a minimum: • an annual review of information about the document
      custodian’s internal audits, and • a quarterly review of the document custodian’s
      ﬁnancial rating (or its parent’s or subsidiary’s ratings if the custodian is
      not a regulated institution). Should the ﬁnancial rating fall below the minimum
      criteria, the seller or servicer must immediately notify their Fannie Mae Servicing
      Consultant and send an email notiﬁcation to Fannie Mae''s Custodian Oversight
      and Monitoring department (see E-1-02, List of Contacts). Fannie Mae will determine
      whether it will allow the documents to remain with the current document custodian
      or require them to be transferred to an acceptable document custodian. Providing
      Loan Information The servicer must provide to the document custodian an electronic
      list that identiﬁes, by Fannie Mae loan number, the loans serviced by the servicer
      for which the document custodian holds custodial documents within 30 days of
      such a request from the document custodian. Recent Related Announcements The
      table below provides references to recently issued Announcements that are related
      to this topic. Announcement Issue Date Announcement SEL- 2022-04 May 04, 2022
      Announcement SEL-2019-04 May 01, 2019 Published May 6, 2026 118'
  judgment: false
