source:
  type: guide
  id: fnma-sel-c2-2-06
  authority: Fannie Mae Selling Guide C2-2-06 — Authorization to Transfer Funds
  description: Fannie Mae Selling Guide C2-2-06 — Authorization to Transfer Funds.
  coverage_tier: operative
obligations:
- id: fnma-sel-c2-2-06-full
  canonical_id: fnma-sel-c2-2-06-full
  section: Fannie Mae Selling Guide C2-2-06 — Authorization to Transfer Funds
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C2-2-06 — Authorization to Transfer Funds
    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: 'C2-2-06, Authorization to Transfer Funds (05/01/2024) Introduction
      This topic explains how a lender authorizes Fannie Mae to transfer funds for
      whole loan deliveries into its designated accounts, including: Documentation
      Requirements Lender’s Agreement Related to the Execution of the Authorization
      to Transfer Funds Authorization for Repetitive Transfers Changes to or Deletion
      of the Authority to Transfer Funds Documentation Requirements Fannie Mae will
      not transfer purchase proceeds for whole loan deliveries to a lender’s designated
      bank account until the lender has provided Fannie Mae with an executed Certiﬁcate
      of Authority, Incumbency, and Specimen Signatures ( Form 360) that designates
      the person or persons authorized to establish, change, or delete wire Published
      May 6, 2026 973 transfer instructions on the lender’s behalf. Lender’s Agreement
      Related to the Execution of the Authorization to Transfer Funds By executing
      Form 360, a lender agrees that Fannie Mae is authorized to conclusively rely
      on the accuracy, genuineness, and good faith of any written communication related
      to transfer instructions that bears the signature of one of the individuals
      designated on Form 360; and it will be fully responsible for any and all losses
      incurred by Fannie Mae that result from Fannie Mae’s reliance on any instruction
      given to Fannie Mae by the lender’s authorized representatives or any other
      person who has (or obtains) access to information or documents that compromise
      the security of any Fannie Mae electronic fund transfer systems or processes.
      After Fannie Mae receives an executed Form 360 from a lender, Fannie Mae will
      rely on the information on that Certiﬁcation until such time as the lender requests
      to modify or delete it. Authorization for Repetitive Transfers A repetitive
      transfer is one in which all aspects of the transfer, other than the date of
      the transfer and the amount of funds transferred, remain constant over time.
      A lender that wants the purchase proceeds for the whole loan deliveries that
      it submits over any period of time to be wired to the same account(s) and depository
      institution(s) must have its authorized representative(s) submit a separate
      Seller’s Designation of Wire Transfer Instructions ( Form 482) for each arrangement,
      specifying any desired transfer routing instructions, any intermediary depository
      institutions, and appropriate account numbers for these repetitive transfers.
      Fannie Mae will call the authorized representative who signed the Form 482 request
      to conﬁrm validity prior to processing. assign a unique payee code to identify
      each of the lender’s instructions for repetitive transfers. The lender must
      then use this payee code to identify each whole loan delivery for which the
      purchase proceeds are to be wired to the designated payee. rely on the ABA routing
      number and the account numbers that the lender’s representative speciﬁes on
      the Form 482 when it creates a payee code to identify each individual payee
      arrangement. Fannie Mae will make no eﬀort to verify the accuracy of the routing
      number or the account numbers. Changes to or Deletion of the Authority to Transfer
      Funds To add, delete, or change an authorized representative, the lender must
      submit a new Form 360 and corporate resolution. Fannie Mae reserves the right
      to verify or authenticate any request for a change, but the lender cannot consider
      Fannie Mae’s failure to do so an act of negligence. Published May 6, 2026 974
      In emergency situations, Fannie Mae may, in its sole discretion, delete the
      name of an authorized representative on the basis of a telephone call and/or
      an email request from another authorized representative; however, a revised
      Form 360 and a new corporate resolution must then be submitted promptly as conﬁrmation
      of the change. Fannie Mae will make reasonable eﬀorts to act quickly on requests
      for emergency deletions of the names of authorized representatives. Fannie Mae
      cannot guarantee that it will be able to act quickly enough to prevent the execution
      of transfers by the individuals being deleted and bears no liability for the
      execution of any such transfers. Recent Related Announcements The table below
      provides references to recently issued Announcements that are related to this
      topic. Announcement Issue Date Announcement SEL-2024-03 May 01, 2024 Announcement
      SEL-2023-05 June 07, 2023'
  judgment: false
