For detailed reporting mortgage loans, the servicer is required to submit the payment activity as it is received from the borrower.
Both a LAR 96 and a LAR 97 must be submitted in accordance with the timing outlined in Reporting Due Dates for Summary Reporting Mortgage Loans.
A Tran 96 is the format for the Loan Activity Report.
A Tran 97 needs to be included with a Tran 96 for Daily Simple Interest loans.
In addition the following should be added:
For summary reporting mortgage loans, the servicer is required to submit a monthly Loan Activity Record or (LAR) by 8 p.m. eastern time on the twenty-second calendar day of the month of the reporting period. The reports are due on the preceding business day if the twenty-second calendar day falls on a weekend or holiday. This due date is termed the “Interim Reporting End Date.” A LAR must be reported regardless of whether payment was received from the borrower. Corrections to reported activity and any additional activity that occurs from the Interim Reporting End Date through the end of the reporting period must be submitted by 8 p.m. eastern time on the first business day of the month following the reporting period.
Note: The servicer is authorized to submit loan activity daily as the activity occurs. Activity recorded by Fannie Mae is not cumulative; the last LAR processed successfully is the activity recorded.
The following example illustrates the reporting requirement. The published Investor Reporting and Remitting Calendar posted on Fannie Mae’s website details the dates for every month.
For more information see Investor Reporting Manual Chapter 2-01, Reporting Due Dates (01/18/2017.