Servicing Guide

Published September 9, 2020

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Fannie Mae Investor Reporting Manual: 2-04, Reporting Specific Payment Transactions to Fannie Mae (02/14/2018)

Chapter 2, Reporting Payment Transactions  

A payment transaction is required for all summary reporting mortgage loans each month regardless of whether a payment is received or not. A payment transaction for detailed reporting mortgage loans is only required when a payment is received.

See below for sub-topic: 2-04, Reporting Specific Payment Transactions to Fannie Mae (02/14/2018):

Reporting a Payment, Curtailment or No Payment 8

Reporting a Payoff to Fannie Mae. 12

Reporting a Repurchase. 15

Reporting a Mortgage Loan Liquidation to Fannie Mae. 17

Recovering Advanced Interest on a Liquidated Delinquent Scheduled/Actual Mortgage Loan. 19

To see other sub-topics for Chapter 2, Reporting Payment Transcations, please click on any of the topics below:

2-01, Reporting Due Dates (01/18/2017)

2-02, Reporting a Transaction Type 96 (Loan Activity Record) (01/18/2017)

2-03, Reporting a Transaction Type 97 (Extended Loan Activity Record) (01/18/2017)

 

2-04, Reporting Specific Payment Transactions to Fannie Mae (02/14/2018)

Reporting a Payment, Curtailment or No Payment

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.

In order to report the Payment Collection activity, the servicer must know the characteristics of the mortgage loan and how it was delivered to Fannie Mae. The calculation of P&I will vary depending on the remittance type and reporting method. The different calculation methods are explained below.

Calculating Monthly Principal Payments

If the mortgage loan is…

To determine the principal remittance amount for a monthly payment mortgage loan, the servicer must…

actual/actual or a scheduled/actual remittance type

subtract the current month's actual UPB from the prior month's actual UPB and multiply the result by Fannie Mae's percentage interest.

scheduled/scheduled remittance type (regardless of whether it is a portfolio mortgage loan or an MBS mortgage loan)

subtract the current month's scheduled UPB from the prior month's scheduled UPB and multiply the result by Fannie Mae's percentage interest.

Calculating Biweekly Principal Payments

If the mortgage loan is…

To determine the principal remittance amount for a biweekly payment mortgage loan, the servicer must…

a scheduled/actual biweekly payment mortgage loan

subtract the current month's actual UPB from the prior month's actual UPB and multiply the result by Fannie Mae's percentage interest.

an actual/actual biweekly payment mortgage loan

subtract the current actual UPB from the UPB as of the last reported loan activity and multiply the result by Fannie Mae's percentage interest.

Calculating Monthly Interest Payments

Interest payments due to Fannie Mae each mont for monhtly payment mortgage loans vary depending on the remittance type of the mortgage loan. For an actual/actual remittance type mortgage loan, the servicer must send Fannie Mae interest only if it is actually collected from the borrower. For a scheduled/actual or a scheduled/scheduled remittance type mortgage loan, the servicer must send Fannie Mae interest whether or not it is collected from the borrower. The calculations used for determining the amount of interest due are similar, except that the interest for a scheduled/scheduled remittance type mortgage loan will be based on a scheduled UPB since principal payments for that type of mortgage loan must be sent to Fannie Mae whether or not they are collected.


The following table provides further instructions to determine the interest payment for a monthly payment mortgage loan depending upon the mortgage loan remittance type.

If the mortgage loan is…

Then the servicer must use this calculation…

an actual/actual or a scheduled/actual remittance type

(Prior Month's Actual UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Interest = Pass-through Interest Remittance Amount

a scheduled/scheduled remittance type

(Prior Month's Scheduled UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Interest = Scheduled Interest Remittance Amount

actual/actual remittance type that is prepaid

(Prior Month’s Actual UPB x Pass-through Rate) ÷ 12 x (number of months prepaid) x (Fannie Mae's Percentage Interest) = Pass-through Interest Remittance Amount

is a scheduled/actual remittance type that is prepaid

(Prior Month’s Actual UPB x Pass-through Rate) ÷ 12 x (Fannie Mae's Percentage Interest) = Pass-through Interest Remittance Amount.

  • Note: The receipt of a curtailment in a given month will not affect the interest calculation for that month. The servicer must compute interest for the current month based on the previous month's ending UPB (if the mortgage loan has an actual/actual or a scheduled/actual remittance type) or on the prior month's scheduled UPB (if the mortgage loan has a scheduled/scheduled remittance type).

Calculating Biweekly Interest Payments

Interest payments related to scheduled/actual biweekly payment mortgage loans must be sent to Fannie Mae each month whether or not they are collected from the borrower. Interest payments related to actual/actual biweekly payment mortgage loans must be reported to Fannie Mae as received. Because biweekly mortgage loans in Fannie Mae's portfolio are accounted for as the scheduled/actual and actual/actual remittance types and those in MBS pools as the scheduled/scheduled remittance type, the calculations for determining the amount of interest due differ slightly (since the interest for an MBS mortgage loan is based on a scheduled UPB because the payments had to be sent to Fannie Mae even though they may not have been collected from the borrower).

The following table provides further instructions to determine the interest payment for a biweekly payment mortgage loan depending upon the mortgage loan remittance type.

If the biweekly payment mortgage loan is…

Then the servicer must use this calculation…

a scheduled/actual remittance type

(Prior Month's Actual UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Interest = Pass-through Interest Remittance Amount

an actual/actual remittance type

(Actual UPB x Pass-through Rate/365) x 14 days x Fannie Mae's Percentage Interest = Pass-through Interest Remittance Amount*

a scheduled/scheduled remittance type MBS mortgage loan

(Prior Month's Scheduled UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Interest = Scheduled Interest Remittance Amount

Interest on the regularly scheduled biweekly payment, which is reported separately from the curtailment, is calculated as described in the following table.

Step

Servicer Actions

1

Use the UPB prior to receipt of curtailment and calculate interest up to but not including the date of the curtailment.

2

Use the UPB after the curtailment to calculate the remaining interest for the payment period.

3

Report the total interest calculated.

  • Note: Actual/actual biweekly loans are amortized every 14 days using a 365-day basis year for interest calculation.

Calculating Actual UPB

The actual UPB of a mortgage loan in a given month is calculated the same way for all remittance or delivery types except actual/actual biweekly. To determine the current month's actual UPB of a mortgage loan except actual/actual biweekly, the servicer must use the following calculation:

 

Previous Month's UPB

-

Current Month's Principal Collection

=

Current Month's UPB

To determine the current actual UPB of an actual/actual biweekly mortgage loan, the servicer must use this calculation:

 

Previous reported UPB

-

Current principal collected

=

Current UPB

This current UPB must equal the UPB on the servicer's trial balance at the end of the activity month.

Calculating Scheduled UPB

The servicer must calculate a scheduled UPB only for:

  • monthly payment portfolio mortgage loans that are the scheduled/scheduled remittance type, and
  • biweekly and monthly payment scheduled/scheduled remittance type mortgage loans that are in MBS pools.

The calculations are the same for both delivery types; however, they will differ depending on the due date of the mortgage loan installments and whether the mortgage loan payments are:

  • current,
  • delinquent, or
  • prepaid.

A. Monthly payments due on first day of month. When a monthly payment mortgage loan has payments due on the first day of each month, the scheduled UPB is generally equal to the actual UPB of the mortgage loan amortized to one month beyond the reporting period. The different calculation methods are explained in the following table.

 

If the mortgage loan is…

The servicer must calculate the ending scheduled UPB as follows:

current

  1. (Ending Actual UPB x Note Rate) ÷ 12 = Gross Interest Amount
  2. Monthly Installment – Gross Interest Amount = Principal
  3. Ending Actual UPB – Principal = Ending Scheduled UPB

delinquent

  1. Repeat steps 1 – 3 shown above for each month the mortgage loan is delinquent, then
  2. Add the additional month required to take the amortization one month beyond the reporting period.

prepaid for one month

No calculation is necessary. The scheduled UPB is equal to the actual UPB.

prepaid two or more months

  1. Ending Actual UPB + Monthly Installment = Adjusted UPB
  2. Interest Rate ÷ 12 = Interest Factor (to 9 decimal places
  3. Adjusted UPB ÷ (1+Interest Factor) = Scheduled UPB
  • Note: These steps must be repeated for each prepaid installment (beyond one) that needs to be “reversed amortized.”

B. Monthly payments due on any other day of the month. When a monthly payment mortgage loan has payments due on any day other than the first day of each month, the scheduled UPB will differ based on the mortgage loan status. The different calculation methods are explained in the following table.

If the mortgage loan is…

The servicer must calculate the ending scheduled UPB as follows:

current

No calculation is necessary. The scheduled UPB is equal to the actual UPB.

delinquent

  1. (Ending Actual UPB x Note Rate) ÷ 12 = Gross Interest Amount
  2. Monthly Installment – Gross Interest Amount = Principal
  3. Ending Actual UPB – Principal = Ending Scheduled UPB
  • Note: These steps must be repeated for each delinquent installment that needs to be amortized to bring the balance to the correct scheduled balance for the reporting period.

prepaid

  1. Ending Actual UPB + Monthly Installment = Adjusted UPB
  2. Interest Rate ÷ 12 = Interest Factor (to 9 decimal places)
  3. Adjusted UPB ÷ (1 + Interest Factor) = Scheduled UPB
  • Note: These steps must be repeated for each prepaid installment that needs to be “reverse amortized.”

C. Biweekly payments. When a mortgage loan provides for biweekly payments, the scheduled UPB is equal to the actual UPB after all biweekly payments due on or before the first day of the month following the reporting month are credited (whether or not they were actually collected).

D. Calculations Related to Daily Simple Interest Loans. Interest accrues daily (based upon a 365-day year) up to but not including the date a payment is received that reduces principal. Then, starting on the date the principal was reduced, interest accrues on the new balance. The following example provides an illustration of the calculation the servicer must complete.

Example:

  • Balance as of March 5 (and assuming interest is fully satisfied to this date): $10,000.00
  • Payment of $500.00 received on March 24 (effective date = March 24 with interest accrued through March 23)
  • Interest rate = 5.5%
  1. Fannie Mae's system will calculate interest on $10,000.00 for 19 days (March 5 to March 24) @ 5.5%.10,000.00 x 0.055/365 x 19 = 28.63
  2. $28.63 would be applied to interest and $471.37 would go to principal, bringing the new UPB to $9,528.63.
  3. Starting on March 24, Fannie Mae's system would calculate interest on the new UPB, $9,528.63.

When a payment is made by the borrower, the servicer must satisfy accrued interest first, then principal with the payment effective, driving the interest calculation.

Reporting a Payoff to Fannie Mae

Upon receiving P&I that will satisfy the outstanding UPB of the mortgage loan, the servicer must submit a LAR with an Action Code 60 on the first business day after the servicer processes the transaction on its system.

Calculating the Principal Balance Paid Off

The amount of principal paid when a borrower pays off his or her mortgage loan is the same regardless of the remittance or delivery type of the mortgage loan. However, the principal payment to Fannie Mae will differ depending on whether the servicer is required to send Fannie Mae:

  • actual principal collections, or
  • scheduled principal reductions.

The different calculation methods are explained in the following table.

If the mortgage loan is…

To determine the principal balance paid off, the servicer must…

an actual/actual (except actual/actual biweekly) or scheduled/actual remittance type

multiply the prior month's actual UPB by Fannie Mae's percentage interest.

a scheduled/scheduled remittance type (regardless of whether it is a portfolio mortgage loan or an MBS mortgage loan)

multiply the prior month's scheduled UPB by Fannie Mae's percentage interest.

an actual/actual biweekly mortgage loan

multiply the actual UPB, as of the last reported loan activity, by Fannie Mae's percentage interest

  • Note: If the mortgage loan has principal forbearance, the servicer must add the forbearance amount to the UPB before multiplying by Fannie Mae’s percentage interest.

Calculating Interest Paid Off

The amount of interest collected when a borrower pays off his or her mortgage loan is determined by:

  • the type of mortgage loan, and
  • the date of the payoff.

The interest due Fannie Mae, however, also will differ depending on the remittance type of the mortgage loan.

The various calculation methods for mortgage loans that are actual/actual remittance type are shown in the following table.

If the mortgage loan is actual/actual remittance type and…

Then the servicer must compute interest…

a VA, RD, FHA Title I, FHA mortgage loans closed on or after 1/21/2015, or conventional first- or second lien mortgage loan

from the LPI date up to, but not including, the date the payoff funds are received, using this calculation:

  • (Prior Month's UPB x Pass-through Rate) ÷ 12 = One Month's Interest
  • (Prior Month's UPB x Pass-through Rate) ÷ 365 = One Day's Interest
  • One Month's Interest x Number of Full Months of Interest Due (if mortgage loan is delinquent) = Accrued Monthly Interest Due
  • One Day's Interest x Number of Days of Partial Month of Interest Due = Accrued Daily Interest Due
  • (Accrued Monthly Interest Due + Accrued Daily Interest Due) x Fannie Mae's Percentage Interest = Total Payoff Interest

an FHA mortgage loan or HUD-guaranteed Section 184 mortgage loan

from the LPI due date up to the date of payoff (if the funds are received on an installment due date) or through the end of the month due date (if the funds are received after an installment due date), using this calculation:

  • (Prior Month's UPB x Pass-through Rate) ÷ 12 = One Month's Interest
  • (One Month's Interest x Number of Full Months of Interest Due) x Fannie Mae's Percentage Interest = Total Payoff Interest
    • Note: When the installment due date of an FHA mortgage loan falls on a non-work day, the receipt of the payoff funds shall be considered received on the installment due date if received on the next working day.
  • Note: A full month of interest will be based on a 360-day year, while a partial month's interest will be based on a 365-day year.

For mortgage loans that are scheduled/actual remittance type and for mortgage loans that are scheduled/scheduled remittance type, the type of mortgage loan and the date of the payoff has no effect on the interest due Fannie Mae. The calculations to be used for scheduled/actual and scheduled/scheduled remittance types are shown in the following table.

If the mortgage loan is…

Then Fannie Mae is due…

scheduled/actual remittance type

one-half of one month's interest, this servicer must calculate this amount as follows:

(Prior Month's UPB x Pass-through Rate) ÷ 24 x Fannie Mae's Percentage Interest = Payoff Interest

  • Note: The interest calculation for FHA Title I loans that are the scheduled/actual remittance type is the same as the calculation for FHA Title I loans that are the actual/actual remittance type (as discussed in the preceding table).

scheduled/scheduled remittance type

one full month's interest, the servicer must calculate this amount as follows:

(Prior Month's Scheduled UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Interest = Scheduled Payoff Interest (also see Servicing Guide C-3-02, Remitting Payoff Proceeds.

Reporting a Repurchase

As outlined in the Servicing Guide, Fannie Mae must approve a mortgage loan to be repurchased. Once approved, the servicer must adhere to the following guidelines when submitting the repurchase LAR transaction.

Action Code

The servicer must report this Action Code …

With an Action Date

65

In the next Transaction Type 96 it transmits to Fannie Mae through Fannie Mae’s investor reporting system

that is within the current activity period.

67

Repurchasing an ARM loan where the modification feature is being exercised

that is within the current activity period.

Calculating the Principal to Repurchase

Mortgage loans sold to Fannie Mae as cash purchases may have been purchased at par, at a discount or at a premium price. Mortgage loans sold to Fannie Mae as part of a SWAP MBS pool are purchased at par. When determining the principal that needs to be repurchased, the price of the mortgage loan will need to be considered. The following table explains how to calculate the principal to report on the LAR Transaction Code 96.

If the mortgage loan is…

To determine the principal to be repurchased, the servicer must…

an actual/actual (excluding biweekly) or a scheduled/actual remittance type portfolio mortgage loan (sold as cash)

  • multiply the prior month's actual UPB by the original purchase price, then
  • multiply the result by Fannie Mae's percentage interest.

a scheduled/scheduled remittance type portfolio mortgage loan (sold as cash)

  • multiply the prior month's scheduled UPB by the original purchase price, then
  • multiply the result by Fannie Mae's percentage interest.

an actual/actual biweekly mortgage loan

  • multiply the UPB as of the last reported loan activity, by the original purchase price, then
  • multiply the result by Fannie Mae's percentage interest.

a scheduled/scheduled remittance type loan sold into SWAP MBS security

  • multiply the prior month's scheduled UPB by Fannie Mae's percentage interest.

an actual/actual remittance type loan that was reclassified from a SWAP MBS security

  • multiply the prior month’s actual UPB by Fannie Mae’s percentage interest.
  • Note: If the mortgage loan has principal forbearance, the servicer must add the forbearance amount to the UPB before multiplying by the purchase price and/or Fannie Mae’s percentage interest.

Calculating Interest Repurchased

When an actual/actual remittance type mortgage loan is repurchased, Fannie Mae is due interest from the LPI date up to, but not including, the repurchase date. However, when a scheduled/actual or a scheduled/scheduled remittance type mortgage loan is repurchased, Fannie Mae is due a full month of interest in all cases. A full month of interest will be based on a 360-day year, while a partial month's interest will be based on a 365-day year. The following table provides additional instructions for calculating the repurchase interest due Fannie Mae based on the remittance type of the mortgage loan.

If the mortgage loan is…

Then the servicer must calculate repurchase interest as follows…

an actual/actual remittance type

  • (Prior Month's UPB x Pass-through Rate) ÷ 12 = One Month's Interest
  • (Prior Month's UPB x Pass-through Rate) ÷ 365 = One Day's Interest
  • One Month's Interest x Number of Full Months of Interest Due (if mortgage loan is delinquent) = Accrued Monthly Interest Due
  • One Day's Interest x Number of Days of Partial Month of Interest Due = Accrued Daily Interest Due
  • (Accrued Monthly Interest Due + Accrued Daily Interest Due) x Fannie Mae's Percentage Interest = Total Repurchase Interest

a scheduled/actual remittance type

(Prior Month's UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Ownership = Repurchase Interest

a scheduled/scheduled remittance type portfolio or MBS mortgage loan

(Prior Month's Scheduled UPB x Pass-through Rate) ÷ 12 x Fannie Mae's Percentage Interest = Scheduled Repurchase Interest

Reporting a Mortgage Loan Liquidation to Fannie Mae

A loan liquidation is classified as an event that removes the mortgage loan from the Fannie Mae investor reporting system without full payment. Actions included in this category are Foreclosure Sales, a Mortgage Release, Third Party Sale, Short Sale, etc. The Action Codes and related descriptions are provided in the following table.

Action Code

The servicer must report this Action Code for…

70

Charge-off/Liquidated Held for Sale for Uninsured Properties:

  • including those in redemption,
  • acquired through a Mortgage Release, or
  • for a VA No-Bid or No Upset case.

Note: The servicer must transmit a Transaction Type 96 LAR to Fannie Mae if the servicer repurchases an acquired property after it submits an REOgram™ to Fannie Mae.

Note: The servicer must not report an action code that reflects “repurchase” or “payoff” since the liquidation actually relates to the disposition of the property that was “held for sale.” The servicer also must report the repurchase proceeds as “special remittance.”

71

Liquidated Third-Party Sale / Condemnation / Short Sale, including when:

  • a third-party purchaser has acquired the property,
  • a condemnation of the property has occurred,
  • a short sale has been completed, or
  • Fannie Mae authorized the charge-off of the second-lien mortgage debt.

72

Charge-off/Liquidated – Foreclosure Sale Held for Insured Properties:

  • including those in redemption, or
  • for a property acquired through a Mortgage Release pending conveyance to FHA/VA/MI.

Calculating the Principal to Liquidate the Mortgage Loan

The amount of principal required to be reported to Fannie Mae to effectively pay off the mortgage loan varies based on the remittance type of the mortgage loan. The different calculation methods are explained in the following table.

If the mortgage loan is…

The principal amount to report to liquidate the loan is…

an actual/actual (except actual/actual biweekly) or scheduled/actual remittance type

the prior month’s actual UPB multiplied by Fannie Mae’s percentage interest.

a scheduled/scheduled remittance type

the prior month’s scheduled UPB multiplied by Fannie Mae’s percentage interest.

an actual/actual biweekly mortgage loan

the prior month’s actual UPB, as of the last reported loan activity multiplied by Fannie Mae’s percentage interest.

  • Note: For an actual/actual, scheduled/actual or an actual/actual biweekly remittance type loan, if there is movement in the Loan’s LPI date or Actual UPB, the change in the UPB will need to be accounted for in the principal amount to be reported.
     
  • Also, if the mortgage loan has principal forbearance, the servicer must add the forbearance amount to the UPB before multiplying by the purchase price and/or Fannie Mae’s percentage interest.

Calculating the Interest to Liquidate the Mortgage Loan

The amount of interest the servicer must report when a mortgage loan is liquidated is also dependent upon the remittance type of the mortgage loan. The calculation method used to determine the amount of interest to report is shown in the following table.

If the mortgage loan is…

The principal amount to report to liquidate the loan is…

an actual/actual remittance type (excludes biweekly loans)

No LPI Movement

  • $0.00

Forward LPI Movement

  • Sum of the (Prior period Actual UPB x Pass-through Rate) / 12 for the number of payment made times Fannie Mae's Percentage Interest

Backward LPI Movement

  • Sum of the (Prior period Actual UPB x Pass-through Rate) / 12 for the number of payment made times Fannie Mae's Percentage Interest times (-1)

an actual/actual biweekly mortgage loan

No LPI Movement

  • $0.00

Forward LPI Movement

  • Sum of the (Prior period Actual UPB x Pass-through Rate) / 24 for the number of payment made times Fannie Mae's Percentage Interest

Backward LPI Movement

  • Sum of the (Prior period Actual UPB x Pass-through Rate) / 24 for the number of payment made times Fannie Mae's Percentage Interest times (-1)

a scheduled/actual remittance type

Advancing

  • The prior month’s scheduled UPB multiplied by Fannie Mae’s percentage interest times the Lender Pass Through Rate / 12

Recovering

  • If there is no LPI movement, then interest amount to report is = the Total Advanced Interest multiplied by (-1).
  • With forward LPI movement, then (prior scheduled UPB multiplied by Fannie Mae’s percentage interest times the Lender Pass Through Rate / 12) times the number of periods from the prior LPI date to the reported LPI date
  • With backward LPI movement, then ((total advanced interest plus (prior scheduled UPB multiplied by Fannie Mae’s percentage interest times the Lender Pass Through Rate / 12) times the number of periods form the prior LPI date to the Reported LPI date) times (-1).

Not advancing

  • Regardless of LPI movement, then interest amount is = (prior actual UPB * Lender Pass Through Rate / 12) times (-1)

a scheduled/scheduled remittance type

The prior month’s scheduled UPB multiplied by Fannie Mae’s percentage interest times the Lender Pass Through Rate / 12.


Recovering Advanced Interest on a Liquidated Delinquent Scheduled/Actual Mortgage Loan

For scheduled/actual remittances, the servicer must pass through one more months’ worth of interest than the number of delinquent installments.

The servicer must pass through to Fannie Mae:

  • one month's interest for the reporting period that includes the LPI date for the mortgage loan, and
  • one month's interest for each successive month of delinquency.

For delinquent mortgage loans, the servicer is authorized to recover its advances for delinquent interest during the fourth month of delinquency. To recover this interest advance, the servicer must report a negative interest remittance amount for the mortgage loan when reporting the Transaction Type 96 LAR for the month in which the mortgage loan becomes four months delinquent. This amount represents the first three months of advanced interest. Fannie Mae will reimburse the servicer for the additional month of interest it advances (fourth month) after the servicer reports the loan liquidation (as Action Code 70, 71, or 72) with Transaction Type 96 (Summary Loans) or Transaction Type 96 and 97 (Detailed Reporting Loans) LAR.

The following table illustrates the correct timing for reporting delinquencies, advancing interest, and recovering advanced interest for an S/A whole mortgage loan or a participation pool mortgage loan (other than one that was part of a concurrent mortgage loan sale) that had an LPI date of April 2017:

Mortgage LPI

Reporting Period

Date: April 2017

April 2017

May 2017

June 2017

July 2017

August 2017

Mortgage Status

Current

1 mo. Delq.

2 mo. Delq.

3 mo. Delq.

4 mo. Delq.

Interest Sent to Fannie Mae

1 mo.

1 mo.

1 mo.

1 mo.

-3 mos.*

   

Delinquent Interest
Advanced for 3 Months

Interest Recovery

  • Note: The remaining one month of interest will be paid to servicer after it reports the liquidation of the mortgage loan.

Related Announcements

The following table provides references to Announcements that are related to this topic.

Announcements

Issue Date

Announcement SVC-2018-01

February 14, 2018

 

 

 

 

To see other sub-topics for Chapter 2, Reporting Payment Transcations, please click on any of the topics below:

2-01, Reporting Due Dates (01/18/2017)

2-02, Reporting a Transaction Type 96 (Loan Activity Record) (01/18/2017)

2-03, Reporting a Transaction Type 97 (Extended Loan Activity Record) (01/18/2017)

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