Introduction

Wire instructions enable the electronic transfer of funds or securities between accounts. There are two types of wire instructions: cash (whole loan) funding and security delivery for MBS Pools. Wire instructions are set up in the Loan Delivery application to reflect how you transfer funds or securities. Based on your line of business, you may need to set up more than one type of wire instruction following the steps in this job aid.

In 2018, as part of the enhanced certification process rollout at Fannie Mae, wire instructions that are being used for loans associated with warehouse lenders will need to be identified. You can start by identifying whether or not your wire instructions are related to warehouse lenders under bailee letter or delivered with Form 2004A.

Warehouse lenders and disbursement agents now have limited access to the Loan Delivery application. After you administer your wire instructions, the warehouse lenders and disbursement agents you designate will review and verify the wire instructions. Once the wire details are verified, the warehouse lenders and disbursement agents accept the associations to activate the wire.

NOTE: All wires (cash and security) must be in ACTIVE status to be used in Loan Delivery.

When loans are delivered using wire instructions that relate to a warehouse lender, the custodian will use the wire details set up in Loan Delivery to validate the bailee letter or Form 2004A during the certification of the loan.

For more information on bailee letter requirements, refer to Selling Guide section C1-2-04: Bailee Letters.

Early Funding Wire Administration

If you utilize Fannie Mae's early funding products, As Soon As Pooled® Plus for loan-level whole loan or MBS funding, or As Soon As Pooled Sale for MBS funding, there are additional wire instruction requirements and setup steps. Contact your Fannie Mae account representative or the Capital Markets Sales Desk for additional details.

Cash Wire Instructions

Fannie Mae works with lenders to set up cash wire instructions (payee codes) through the Form 482 process so that Fannie Mae can transfer funds related to the whole loan purchases. Funding can go directly to the bank account of delivering lenders, but can also be wired to warehouse lenders that have an ownership interest in loans under bailee letter, or subsequent disbursement of funds to other parties defined within Form 2004A.

Read through the questions below to determine which type of cash wire instructions your business uses.

NOTE: If you need to add a new payee code, you must submit Form 482. Once the payee code is created and added to Loan Delivery by Fannie Mae, you will be able to administer your wire instructions according to the table below.

Determining Criteria	Job Aid Reference
Do you use cash wire instructions for loans that are not delivered under a bailee letter or Form 2004A?	Refer to the Cash Loans Delivered without Bailee Letter job aid.
Do you use cash wire instructions directly to your warehouse bank for loans delivered with a bailee letter?	Refer to the Cash Loans Delivered with Bailee Letter job aid.
Do you use other funding scenarios including a Form 2004A, or funding supported by a triparty, intercreditor or settlement agreement?	Refer to the Additional Cash Loan Funding Scenarios for Warehouse Related Loans job aid.

To add the payee code to your ULDD XML import file, review the information below:

Sort ID	MISMO Data Point Name	Field Name	Implementation Notes
642	PartyRoleIdentifier	Payee Code	Provide wire nickname (payee code) to indicate where the proceeds should be sent.
643	PartyRoleType

Security Wire Instructions

MBS lenders manage security delivery instructions directly in Loan Delivery. These wire instructions may be associated with loans that are under bailee with a warehouse lender and in some instances further covered by a Form 2004A authorizing disbursement of funds or pool issuance to another party.

Read through the questions below to determine which type of security wire instructions your business uses.

Determining Criteria	Job Aid Reference
Do you use MBS security instructions for loans that are not delivered under a bailee letter or Form 2004A?	Refer to the MBS Loans Delivered without Bailee Letter job aid.
Do you use MBS security instructions directly to your warehouse bank for loans delivered with a bailee letter?	Refer to the MBS Loans Delivered with Bailee Letter job aid.
Do you use other security instruction scenarios including a Form 2004A, or those supported by a triparty, intercreditor or settlement agreement?	Refer to the Additional MBS Security Options for Loans Related to Warehouse Lenders job aid.