Servicing Guide

Published November 10, 2020

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What are the servicers responsibilities related to servicing ARM loans?

The following table provides a list of the servicer’s responsibilities related to servicing ARM loans. 

The servicer must...
 

Enforce each ARM loan according to the terms specifically described in its mortgage loan instrument. These may be modified or supplemented by any additional terms specified in a negotiated contract issued in connection with Fannie Mae’s purchase or securitization of the mortgage loan.

 

Use its own funds to satisfy any shortage resulting from untimely interest rate or payment adjustments.

 

Reimburse Fannie Mae if the servicer makes an error that causes the amount of negative amortization to exceed the maximum allowed and Fannie Mae is adversely affected by this breach of the mortgage loan terms.

For more information please see: C-2.1-01: Responsibilities for ARM Loan Servicing

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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.

Guide Resources

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Visit Selling and Servicing Guide Communications and Forms

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