Servicing Guide

Published September 9, 2020

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For investor reporting, how is the pass-through rate determined for a Single Family ARM mortgage loan that converts to fixed rate?

When an ARM in Fannie Mae's portfolio converts to a fixed-rate mortgage loan, the servicer must determine:  

  • a new interest rate, and  
  • a new pass-through rate.  

The calculation for these rates is the same regardless of whether the mortgage loan has an actual/actual or a scheduled/actual remittance type.

The servicer must calculate the new interest rate and pass-through rate for the converted ARM loan by completing the steps shown in the following table. 

For more information see Investor Reporting Manual Chapter 5, Formulas and Calculations.

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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