Each reporting period the servicer is required to inform Fannie Mae of any borrower payment activity (or no payment) that occurred for the Reporting Period. This information includes the Loan Activity Status, the Payment Collection Activity, and any Fees that were collected, if applicable. For all payment transactions that are not liquidations, the servicer must report the following for the Loan Activity Status:
- Action Code = either 00 for eighty character fixed width file format or 02 for ANSI X12 file format.
- Action Date = any date within the month of the Reporting Period for which the activity is to be applied (monthly reporting).
Note: When reporting an Action Code of 00 or 02, the Action Date Month and Year must be aligned to the Activity Period being reported.
Fannie Mae expects each loan to be reported by COB CD22 (or earlier if CD22 falls on a weekend. If any updates occur after through the end of month, servicer needs to report updated cumulative LAR.
For more information see Investor Reporting Manual Chapter 2-04, Reporting Specific Payment Transactions to Fannie Mae (02/14/2018).