Freddie Mac Form 987 - Wire Transfer Authorization For A Cash Warehouse Delivery Page 3
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3INSTRUCTIONS FOR FORM 987
The Seller must complete the following items, unless indicated as optional:
1. Seller/Servicer number: Seller/Servicer number assigned by Freddie Mac
2. Seller’s full legal name: Full legal name of the Seller
3. Warehouse Lender’s full legal name: Full legal name of Warehouse Lender. This information must be obtained from the
Warehouse Lender directly, and must match the Warehouse Lender’s Certificate of Incumbency on file with Freddie Mac.
4. Warehouse Lender’s Federal Tax ID#: nine-digit number issued by the Internal Revenue Service for banking, tax filing,
and other business purposes. This number must be obtained from the Warehouse Lender directly, and must match the
Warehouse Lender’s Certificate of Incumbency on file with Freddie Mac.
5. Warehouse Lender's address: Complete street address, including zip code
6. Status: This section allows the Seller to indicate:
nstructions: Select this box to create an additonal set of wire instructions or to add an initial set of instructions
Add I
Change Instructions: Select this box if you need to make changes to existing instructions, e.g., changing account
number or ABA number
Recertify/Reconfirm Instructions: Select this box if you are reconfirming existing instructions.
7. Two-party transfers: A two-party transfer involves a transfer of funds in which the funds are directly routed to the
beneficiary’s bank (for example, a transfer of funds to ABC Bank for further credit to XYZ Mortgage Company)
Beneficiary’s bank name: Full legal name and location (city and state) of the bank receiving the funds for the beneficiary
(usually the warehouse Lender)
ABA number: American Bankers Association’s (ABA’s) nine-digit routing number of the beneficiary’s bank.
Beneficiary’s name: Full legal name of the final party to be credited with the funds
Beneficiary’s account number: Account number of the beneficiary to which the funds are to be credited
8. Three-party transfers: A three-party transfer involves a transfer of funds in which a correspondent bank must be credited
first in order for the funds to be applied to the beneficiary’s bank (for example, a transfer of funds to the Federal Home Loan
Bank of Pittsburgh for credit to ABC Bank for credit to XYC Mortgage Company)
Transfer bank: Full legal name and location (city and state) of the bank where funds are to be initially transferred for further
credit to the beneficiary’s bank
ABA number: ABA’s nine-digit routing number of the depository institution, that is, the transfer bank.
Beneficiary’s bank: Full legal name and location (city and state) of the bank receiving the funds for the beneficiary (usually
the warehouse lender)
Beneficiary’s account number at transfer bank: Account number at the transfer bank, opened for the beneficiary’s bank to
receive funds
Beneficiary’s name: Full legal name of the final party to be credited with the funds
Beneficiary’s account number: Final account number of the beneficiary where the funds are to be credited
9. Special Instructions (optional): This permits the Seller to furnish additional information that may expedite the notification
to the Seller of receipt of funds at the bank. Due to the space limitations of 30 characters, only one special instruction can be
used.
For attention of: This may be used to identify a specific department or person within the bank or Seller to be notified of receipt
of funds
Immediately phone: This may be used to identify the name and telephone number, including area code, of a person whom
the Seller requests the bank to call when funds are received; contact information entered in this section will also appear on the
Form 996E, Warehouse Provider Release and Transfer, as the Warehouse Provider contact name and telephone number.
Comments: This may be used to enter any additional information that will facilitate the transfer of funds (for example,
reference contract number of additional credit party advice)
10. and 11. Signature block of Seller’s authorized officer and notarization:
The wire transfer instructions contained on this Form 987 will be accepted only if the form is signed by an authorized officer of
the Seller and the signature of the officer has been notarized. The name and specimen signature of the authorized officer must
be on a duly executed Certificate of Incumbency (Form 988SF or 989SF) and the officer’s name or title must be on a copy of a
board resolution or other governing body resolution, as applicable, authorizing the officer to provide Freddie Mac with wire
transfer instructions. The Certificate of Incumbency and Resolution must be delivered to and accepted by Freddie Mac. If a
current, duly executed Form 987 is on file with Freddie Mac, Seller must, for each delivery of Pledged Mortgages, make sure
that a Form 996, Warehouse Provider Release and Transfer, signed by the Warehouse Lender’s authorized officer, is
delivered by the Warehouse Lender to Freddie Mac.
E-mail address: E-mail address of signatory for instructions verification e-mail.
Mailing Instructions: Mail original Form 987 to:
Freddie Mac
1551 Park Run Drive
McLean, VA 22102-3110
Attn: Customer System Access
Freddie Mac Single-Family Seller/Servicer Guide
Bulletin 2015-19
10/28/15
Page F987-3
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