A shortage or surplus in the Fannie Mae investor reporting system represents the cumulative difference between:
- the cash the servicer remitted to Fannie Mae, and
- the interest and principal the servicer reflected in its monthly loan-level reports as being applied to the portfolio mortgage loans serviced for Fannie Mae.
Unreconciled shortages are payable to Fannie Mae. The following table provides the servicer with instructions for the reconciliation of a shortage.