Impact of COVID-19 on Early Funding
Loans that have been placed in forbearance after closing due to a COVID-19 hardship will be eligible for delivery to Fannie Mae using ASAP Plus provided they satisfy the note date and other requirements set forth in the Lender Letter below.
- Lender Letter LL-2020-06, Selling Loans in Forbearance Due to COVID-19
- View Fannie Mae’s COVID-19 update page for additional information
Not all funding and loan delivery processes are the same. Your business has unique needs compared to other lenders, which is why we can help analyze your funding and loan delivery process to design the right mix of Early Funding Products to meet your needs.
Our Early Funding products offer competitive terms and greater execution flexibility and combine purchase, pooling, settlement, and clearance into a seamless customer experience. With our straightforward loan delivery technology and you get faster execution and a better customer experience - saving time, decreasing errors, and cutting costs with minimal changes to your current process. Choose from:
As Soon As Pooled® Plus (ASAP+)
Receive loan-level funding for whole loans or pools upon certification, up to 30 days before deciding on final execution, plus the flexibility to choose either MBS or Whole Loan execution.
As Soon As Pooled (ASAP) Sale
Pool-level funding up to 15 days before the forward trade settlement date. Receive up to 100% of your forward trade proceeds as soon as the day after your pools close and are traded.
|As Soon as Pooled Plus||As Soon as Pooled Sale|
|Competitive||Reduce funding expense and extend positive carry period by delivering on the last day of whole loan commitment.||Fund 100% of your forward trade price, plus MBS interest accrued from pool issuance to SIFMA settlement.|
|Fast||Receive proceeds as soon as the same day your loans are certified by a Fannie Mae approved document custodian.||Receive proceeds as soon as the day after your pools close and are traded.|
|Efficient||The process has never been easier. Approved lenders can request Early Funding by leveraging their existing delivery file.||Forward trades can be completed with our Capital Markets Pricing & Sales Desk or with any approved Fannie Mae counterparty. We will handle TBA notifications, allocations, and settlement activities for all of your Early Funding trades.|
Having upfront funding makes our business more productive because the liquidity that the program offers.