C2-1.3-01, Servicing Marketplace (03/03/2021)

Lenders may retain, release, or sell the servicing rights associated with the loans they deliver to Fannie Mae. Lenders may execute a concurrent transfer of servicing via Fannie Mae’s whole loan committing application with either a best efforts or a mandatory commitment. By participating in the servicing-released component of the whole loan committing application, known as Servicing Marketplace, lenders may arrange for a concurrent sale of the servicing to an approved Fannie Mae servicer. See A3-3-02, Concurrent Servicing TransfersA3-3-02, Concurrent Servicing Transfers, for approval requirements and additional information.

All transfers of servicing using Servicing Marketplace must comply with this Guide and all applicable laws. The procedures and documentation required for a transfer of servicing are set out in the servicing transfer instructions available directly from the associated Servicing Marketplace transferee servicer.

A lender's rights and obligations related to a committed loan for which the lender has sold the servicing are as set forth in the Mortgage Selling and Servicing Contract and the Selling and Servicing Guides, and use of the whole loan committing application in no way alters a lender's obligations to Fannie Mae with respect to such loans.

Lenders and servicers using Servicing Marketplace must execute a purchase and sale agreement that governs the sale of servicing rights between lenders and servicers as provided herein, or lenders and servicers will be subject to the terms and conditions of the mortgage loan purchase and sale agreement set forth in E-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale AgreementE-2-05, Servicing Marketplace — Mortgage Loan Servicing Purchase and Sale Agreement.

Servicers are encouraged to use the Servicing Marketplace rate sheet to establish the price they will pay a seller for servicing. Fannie Mae's calculation of the net SRP and the net funding SRP using the servicer’s rate sheet is based on unpaid principal balance, escrow funds, and other loan information submitted by the lender at loan delivery. Fannie Mae accepts no responsibility for the accuracy or completeness of such information and is entitled to rely on such information in calculating the net SRP and, if the servicer uses the “All-In Funding” feature of Servicing Marketplace, in collecting an amount equal to the net funding SRP from the servicer and remitting it to the lender on behalf of the servicer (or in deducting an amount equal to any negative net funding SRP from the acquisition proceeds and remitting it to the active servicer). Lenders will have no recourse to Fannie Mae if issues arise with any of the following:

• the accuracy or completeness of the information used to calculate the net SRP or the net funding SRP;

• the accuracy and completeness of any information that the lender obtains from the whole loan committing application and uses or relies upon in any way;

• the lender's sale (or attempted sale) of servicing to the servicer (other than the calculation, collection, and remittance of the net funding SRP and transfer of certain data to the servicer); or

• the servicing obligations and obligations relating to escrow funds.

Fannie Mae may increase or decrease the number of servicers that participate in Servicing Marketplace at any time.