Fannie Mae to Transition the Transfer Agent / Certificate Registrar / Paying Agent Role on Single-Family REMIC Residuals
Fannie Mae will be transitioning the Transfer Agent/ Certificate Registrar / Paying Agent role from U.S. Bank to Common Securitization Solutions (CSS), LLC for real estate mortgage investment conduit (REMIC) residuals ultimately backed by Single-Family MBS pools and on all remaining Single-Family MBS definitive pools. The transition is currently scheduled to become effective March 1, 2022. CSS will engage J.P. Morgan Chase to assist in its Paying Agent role.
After the transition, all REMIC residuals ultimately backed by Single-Family MBS will have CSS as the Transfer Agent / Certificate Registrar / Paying Agent. U.S. Bank will remain Transfer Agent / Certificate Registrar / Paying Agent for: (i) Multifamily REMIC residuals, (ii) REMIC residuals backed by whole loans (with the exception of those REMIC residuals related to whole-loan REMICs with a "9L" prefix, for which CSS will serve in such agent capacities), (iii) certain Single-Family MBS-backed REMIC residuals that are eligible for final distribution pending surrender of the related residual certificate and (iv) certain other Single-Family MBS-backed REMIC residuals. Lists of all such residuals described in (iii) and (iv) are provided here.
Fannie Mae no longer has a physical pick-up window for any newly-issued REMIC residuals. The surrender of REMIC residuals for transfer or final distribution will continue to be by mail only, at Common Securitization Solutions, LLC, 7501 Wisconsin Avenue, Ste. 400W, Bethesda, MD 20814 (when CSS is serving as Transfer Agent/Certificate Registrar/Paying Agent) or U.S. Bank Global Corporate Trust, Attn: Transfer Unit, EP-MN-WS2N, 111 Fillmore Avenue E, St. Paul MN 55107-1402 (when U.S. Bank is serving as Transfer Agent/Certificate Registrar/Paying Agent).
For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.