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MBS Loans Delivered Using a Broker/Dealer or Bank of New York Mellon DVP Agreement
These are security delivery instructions a lender uses for a broker/dealer or an automated Bank of New York Mellon (BNYM) DVP (delivery vs payment) agreement.
How to Administer
In order to administer your security wire instructions, you first need to locate the specific wire instruction on the "Wire Details" page. Next, expand the wire instruction and select the "Edit" button to access the "Edit Wire" window (see Getting Started). If this is a new security wire select the '+Add New Wire' button on the Wire Details tab.
Once the "Edit Wire" window opens, follow these steps to administer the wire instructions:
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Section 1 - include a Nickname if one does not exist and add additional seller numbers (if applicable) by selecting the drop down in the Seller Number field.
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Section 2 - verify/add account information.
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Section 3 - Set the Receiver Type to Warehouse Lender. Use the Warehouse Lender drop down to select the first warehouse lender associated to this instruction and set the letter type to Form 2004A.
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For the Letter Name, locate the "Name of Disbursement Agent" information on the Form 2004A. Enter the 2004A Letter Name in Loan Delivery so it matches what you will type in the "Name of Disbursement Agent" information from Form 2004A.
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Click the Add Warehouse Lender link to add additional Warehouse Lenders to the wire.
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Select "Submit Request."