Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

View All Selling Policy Updates

Download PDF

Hint: Ask in a form of a question.

For best results, pose your search like a question.

C2-2-02, Documentation Requirements for Whole Loan Deliveries (05/01/2019)


This topic describes the documentation requirements for whole loan deliveries, including:

Required Documents for Whole Loans

See E-2-01, Required Custodial Documents, for a list of the mortgage documents that must be included in the document submission package for all loans.

Submission of Documents for Whole Loans to a Document Custodian

Mortgage document submission packages must be submitted to the document custodian via overnight delivery (with instructions for first morning delivery) for the following:

  • whole loans,

  • As Soon As Pooled Plus (ASAP Plus), and

  • As Soon As Pooled (ASAP Sale).

All packages should be sent to the assigned document custodian and addressed according to the instructions provided by that custodian. The document custodian will certify the loans in accordance with the Master Custodial Agreement (Form 2017) in effect for Fannie Mae, the lender, and itself.

Whole Loan Deliveries to a Document Custodian

Lenders are required to submit data for whole loan deliveries to Fannie Mae via Fannie Mae’s Loan Delivery application.

To ensure timely delivery to the document custodian, the seller should ensure the loan document submission package is submitted to its overnight carrier (with instructions for first morning delivery) the same day that the seller submits the loan data to Fannie Mae for purchase. Loan data delivered by the seller to Fannie Mae will be certified the next business day provided the documents have been delivered to the document custodian via first morning delivery, and there are no discrepancies and no unresolved lien issues.

When the document custodian receives the mortgage document submission package, it will review the related loan documentation to verify that all of the required documents have been received and are in order. The document custodian will then work with the lender to correct any certification data or document errors. Lenders can opt-in to receive email notices through Loan Delivery when data or document discrepancies are noted during certification. Lenders then have the option to accept or decline data changes the custodian proposes as a result of the discrepancy on the note and the data they provided. The lender must work with the custodian to ensure all discrepancies are resolved.

If there are no document or data-related errors, the document custodian will transmit a certification to Fannie Mae.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing

Try Ask Poli

Related Articles

C2-2-01, General Requirements for Good Delivery of Whole Loans (08/07/2018)

IntroductionThis topic provides Fannie Mae’s requirements for good delivery of whole loans, including: Definition of Whole Loan Good Delivery ...

Read more

C2-2-03, General Information on Whole Loan Purchasing Policies (05/01/2019)

IntroductionThis topic includes information on the conditions under which Fannie Mae will fund the purchase of a loan delivered in fulfillment of a whole...

Read more

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.

Email Us
If you still have Technical Support questions, feel free to