Security Wire Instructions

Here's a Tip: It's All In A Name

Clearing the confusion over security wire instructions

If you’re trying to create security wire instructions on Loan Selling Advisor^® for Guarantor and MultiLender contracts and are finding the process confusing, you will now receive helpful tips on your screen that will tell you what to do.

Here is a summary of tips for the data fields that you need to enter when you are creating your wire instructions:

Data Field Name

Security Wire Instructions Name
This field is not part of the security wire instructions, but is the internal name designated by you, the Seller/Servicer, to help identify your security wire instructions. You may not use the same name more than once. Each name you use identifies one set of wiring instructions that you are assigning to your securities.

ABA Routing Number
A unique 9-digit number assigned by the American Bankers Association (ABA) that identifies a financial institution for the processing of wire transfers and other financial transactions. Example: 123456789.

Abbreviated Bank Name
This is the receiving bank’s Telegraphic Abbreviation (Commonly referred to as Bank Short Name) associated with the ABA routing number. This name will automatically appear in this field when you enter the ABA #. The only way you can change this field is by changing the ABA #.

Third Party/FRB Sub-Account Name 
The name assigned to a Third Party or Federal Reserve Bank (FRB) sub-account used to identify and distinguish the account for security settlement and wire transfer purposes. This may be an account type, dealer abbreviation, or an alternate account name.

Expiration Date 
The date through which the Security Wire Instructions remain valid. The field can be left to the default option, Indefinite, unless there are specific reasons for entering an Expiration Date. To delete existing Security Wiring Instructions, enter an Expiration Date to inactivate the Wire Instructions and create new instructions if necessary.

Further Instructions
Additional information used to support the processing of wire transfers and security transactions. This field may include the Beneficiary Name, Beneficiary Account Number, Contact Name, or other relevant payment details required by the receiving institution.

You can make changes to the following fields before approval:

• Security Wire Instructions Name
• Third Party/FRB Sub Account Name
• Expiration Date
• Further Instructions

After approval, you can only make changes to the following field:

• Expiration Date

A more comprehensive quick reference is available online to assist you with understanding and completing security wire instructions for Guarantor and MultiLender contracts. Click here for more details. This useful resource details procedures for the following key tasks:

• Set up security wire instructions
• Approve security wire instructions
• Edit a security wire instruction
• Assign a security wire instruction

Click here for more information on Loan Selling Advisor or contact your Freddie Mac representative.