ARM adjustment errors may also have resulted from the servicer’s erroneous remittances to Fannie Mae. Fannie Mae may require the servicer to submit appropriate documentation to support its proposed corrective action. This documentation may include:
- copies of the mortgage note and ARM rider;
- the payment history records;
- the corrected amortization schedule; and
- the lender’s negotiated contract, if it permitted the ARM adjustments to be handled in a manner that differs from Fannie Mae’s standard requirements.
For more information please see F-1-01, Servicing ARM Loans