Servicing Guide

Published November 10, 2020

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How should the servicer calculate mortgage loan-level compensatory fees?

The following example illustrates how compensatory fees will be calculated using the following formula:

UPB x (Daily PTR/365) x Number of Days Delayed.

Example #1: Mortgage Loan-Level Compensatory Fee Analysis Resulting in a Compensatory Fee: In this mortgage loan-level example, the servicer exceeded Fannie Mae's allowable foreclosure time frame and would be billed a compensatory fee in the amount of $728.77.

Property Located in Florida

UPB

$100,000

PTR

4.75%

LPI

02/01/2013

Property Located in Florida

Foreclosure Sale Date

10/15/2015

Servicer's Overall State Foreclosure Time Frame

986 days

Fannie Mae's Overall Allowable Foreclosure Time Frame for Florida

930 days

Allowable Delays Reported

0 days

Number of Days Over Allowable Foreclosure Time Frame

56 days

Compensatory Fee

($100,000)(.0475/365)*(56) = $728.77

 

For more information see Servicing Guide F-2-03, Compensatory Fee Calculation Examples.

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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.

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