Servicing Guide

Published September 9, 2020

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What are the requirements for remitting other fees and charges that are due to Fannie Mae?

All other fees and charges due Fannie Mae, such as upfront commitment fees or pair-off or extension fees, must all be deposited into a single custodial account that has been designated as the draft account on Form 1072. Sufficient funds must be in the account at all times to ensure the amount scheduled to be drafted on a specific date will be available when the draft actually takes place. The following table provides additional information regarding when Fannie Mae will draft certain other fees, in accordance with C-3-01, Responsibilities Related to Remitting P&I Funds to Fannie Mae. 

Type of Fee Fannie Mae will draft the account...

Upfront commitment fees related to negotiated case commitments

The day following the request for the contract, without providing any advance notification.

Fees related to pair-offs, or extensions of cash commitments or contracts that are request by a seller/servicer

The business day following the seller/servicer’s request for the pair-off or extension.

Fannie Mae will draft the account on the business day following the extended expiration date or following the expiration of the additional time period it allows for processing pending purchases before an automatic pair-off takes place, if the fees relate to

  • an automatic five-day extension of a commitment or contract, or

  • an automatic pair-off of the remaining balance of an expired commitment or contract.

Fannie Mae will provide the seller/servicer with advance notification of its draft.

 For more information please see Servicing Guide F-1-21, Remitting and Accounting to Fannie Mae. 

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