Under certain circumstances described in the Servicing Guide and below, Fannie Mae will remove a mortgage loan or compel the servicer to remove a mortgage loan from an MBS pool and place it in Fannie Mae’s portfolio. With the exclusion of PFP mortgage loans with a scheduled/scheduled remittance type, MBS mortgage loans (regular and special servicing option mortgage loans) removed from MBS pools in this manner will become actual/actual remittance type mortgage loans that Fannie Mae will hold in its portfolio, identifying them by the Fannie Mae loan number, the servicer’s loan number, and the property address. PFP mortgage loans with an original scheduled/scheduled remittance type will remain a scheduled/scheduled remittance type even after being removed from the pool.
The servicer must comply with all payment processing, remitting, accounting, and reporting requirements related to servicing reclassified mortgage loans as outlined in A4-1-02, Establishing Custodial Bank Accounts, and C, Mortgage Loan Payment Processing, Remitting, Accounting, and Reporting. If necessary, the servicer must contact its Fannie Mae Investor Reporting Representative (see F-4-03, List of Contacts) for assistance.
For more information please see Servicing Guide F-1-26: Reclassifying or Voluntary Repurchasing an MBS Mortgage Loan.