Last reviewed 10-31-2026Short-Sale.com Editorialglossary
Payee Code
Fannie Mae
Updated 10-31-2026
Payee Code
A number used to identify warehouse or wire transfer banks, which the lender places on its loan schedule for cash deliveries to ensure that purchase proceeds are sent to the appropriate party (if they are to be paid to anyone other than the lender).
Fannie Mae Glossary of Terms
Fannie Mae · p. 36
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