source:
  type: guide
  id: fnma-sel-c2-1.2-03
  authority: Fannie Mae Selling Guide C2-1.2-03 — Best Eﬀorts Commitment Terms, Amounts,
    and Other Requirements
  description: Fannie Mae Selling Guide C2-1.2-03 — Best Eﬀorts Commitment Terms,
    Amounts, and Other Requirements.
  coverage_tier: operative
obligations:
- id: fnma-sel-c2-1.2-03-full
  canonical_id: fnma-sel-c2-1.2-03-full
  section: Fannie Mae Selling Guide C2-1.2-03 — Best Eﬀorts Commitment Terms, Amounts,
    and Other Requirements
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C2-1.2-03 — Best Eﬀorts Commitment Terms,
      Amounts, and Other Requirements
    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: 'C2-1.2-03, Best Eﬀorts Commitment Terms, Amounts, and Other
      Requirements (03/03/2021) Introduction This topic provides information on terms
      and other requirements associated with best eﬀorts commitments, Published May
      6, 2026 959 including: Best Eﬀorts Commitment Terms and Amounts Best Eﬀorts
      Servicing Options Other Best Eﬀorts Requirements DU Recommendations on Loans
      Delivered with Best Eﬀorts Commitments Best Eﬀorts Commitment Terms and Amounts
      By accepting any prices and delivering mortgages to Fannie Mae pursuant to a
      commitment obtained through Fannie Mae’s whole loan committing application,
      the lender conﬁrms that: the lender is approved and continues to satisfy the
      eligibility requirements as described in this Guide, and the mortgages comply
      with all Fannie Mae requirements in the Mortgage Selling and Servicing Contract
      and the Selling and Servicing Guides. Fannie Mae will commit to pay to lenders
      proceeds that are based upon the acquisition price for committed loans, subject
      to any applicable adjustments, as long as: the key data and product type delivered
      matches the key data and product type reported to Fannie Mae to enter into the
      commitment, and the acquisition date is on or before the date upon which the
      commitment expires. Best eﬀorts commitments are for a speciﬁc borrower, address,
      and commitment period. Loan substitution is not allowed. Lenders may not change
      a best eﬀorts commitment to a mandatory commitment (or vice versa) or change
      the remittance type from scheduled/scheduled to actual/actual (or vice versa).
      Lenders must notify Fannie Mae via the whole loan committing application within
      one business day of any change to the key data or product type that occurs during
      the commitment period. If there is a change to the key data or product type
      and the new loan meets Fannie Mae’s eligibility requirements, the acquisition
      price for the committed loan may be changed to reﬂect the revised information
      (using worse case pricing when applicable). Best Eﬀorts Servicing Options Lenders
      may retain, release, or sell the servicing rights associated with the loans
      they deliver in fulﬁllment of a best eﬀorts commitment. Lenders may also execute
      a concurrent transfer of servicing via the whole loan committing application.
      If approved to participate in the Servicing Marketplace component of the whole
      loan committing application, lenders have the option to retain servicing or
      arrange for the concurrent sale of servicing to a participating servicer through
      the Servicing Marketplace. See C2-1.3-01, Servicing Marketplace, for more information.
      Those retaining or releasing servicing may do so using the actual/actual or
      scheduled/scheduled remittance type. Certain products, however, require servicing
      via a speciﬁc remittance type. See C1-3-01, General Information on Remittance
      Types, for information on remittance types and the Cash Remittance System for
      details on remittance requirements for speciﬁc mortgage products. Published
      May 6, 2026 960 For more information and to learn about additional terms and
      conditions associated with servicing-released executions, lenders should contact
      their Fannie Mae customer account team or the Capital Markets Pricing and Sales
      Desk for details. Other Best Eﬀorts Requirements Fannie Mae''s active document
      custodians serve as custodians for loans delivered via a best eﬀorts execution.
      For additional information on the role of document custodians, see C2-2-02,
      Documentation Requirements for Whole Loan Deliveries. Also, refer to Fannie
      Mae''s Active Document Custodians for a complete list of eligible custodians.
      Early funding is available for loans delivered in fulﬁllment of a best eﬀorts
      commitment. For details on this option and other options, and terms and conditions
      associated with best eﬀorts commitments, lenders should contact their Fannie
      Mae customer account team or the Capital Markets Pricing and Sales Desk. DU
      Recommendations on Loans Delivered with Best Eﬀorts Commitments A lender may
      fulﬁll a best eﬀorts commitment by delivering a mortgage loan with a valid DU
      loan caseﬁle ID that is associated with the lender''s institution ID. The DU
      loan caseﬁle must have received a DU recommendation of Approve/Eligible no earlier
      than 60 days prior to commitment. Alternatively, lenders may select the “Other”
      Underwriting Method (as viewed in the whole loan committing application), in
      which case a DU recommendation is not required. Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SEL-2021-02 March
      03, 2021 Announcement SEL-2019-04 May 01, 2019 Section C2-1.3, Servicing Execution
      Tool to Sell Whole Loans Published May 6, 2026 961'
  judgment: false
