Maximum Wire Amount

Warehouse lenders and disbursement agents may have a maximum wire amount for a security wire. In those cases, the lender will add that amount to the security wire setup, which indicates a cap on the amount of the security the warehouse lender or disbursement agent can receive.

If the security is over the cap, Fannie Mae will split up wires automatically as part of the auto roll-up feature. Fannie Mae will issue one wire that meets the cap amount and a second wire that will cover the remaining balance (unless the balance is less than the $1,000 minimum wire amount which then only one wire will be issued - lenders should consult with their security clearing partner to determine if the wire over the limit will be rejected.)

For example, State Street Bank has a $50,000,000 cap. If an MBS security is issued for $60,000,000, the first wire on the Wire Instruction page will roll up to $50,000,000 and then a second wire will be issued for $10,000,000.