Bulk Bid (CDE)

The AFR Correspondent Lending Division is currently accepting Bulk Loan Packages. You must consult your AE to schedule an introductory call prior to submitting your first bulk bid package.

• All Bulk Loan Packages must total no less than $1 million.
• Bulk Bids can be taken out for 15 or 30 days.
• All loans must be cleared for purchase prior to the lock expiration date.
• Bid requests must be submitted prior to 2:00 pm ET to guarantee same day execution.
• Delegated Correspondent loans only. Loans must be previously closed. Locked loans cannot be included in bid requests.
• Bid requests cannot include loans previously locked with AFR within 60 days of the bid request. (including active locks)
• All Bulk Bids must be submitted using AFR’s Bulk Tape which can be found here.
• Bulk Bids Files must be e-mailed to BulkBid@afrwholesale.com. Requests must specify the exact date and time for which the bid is to be prepared. The first time slot is 11:00 ET daily. Tapes must be submitted no less than two hours prior to the bid time.
• Bids must be accepted immediately upon receipt. Bids are otherwise subject to change with market movement.
• All loans in the Bulk Bid must be registered with AFR immediately after receiving trade confirmation from the Bulk Bid Desk. Loans for bids consisting of less than five loans must be registered using the existing manual process. Loans for bids consisting of five or more loans can be registered in bulk by submitting a Fannie Mae 3.2 file to BulkRegistration@afrwholesale.com and BulkBid@afrwholesale.com immediately after the bid is accepted otherwise AFR reserves the right to consider the bid null and void.
• Loans not delivered or not accepted by AFR can be replaced by loans with like characteristics (at the discretion of the AFR Secondary Team).
• Loans not cleared for purchase prior to the lock expiration date will be automatically rolled 15 days. If the loan is still not cleared for purchase at the end of the roll period, it will be subject to a pair off fee based on market prices but not less than 25 bps.
• Any data changes with pricing implications will have adjustments made prior to funding.