DocumentType Seller and Borrower documents . The conforming loan limit is 50 percent higher in Alaska and Hawaii. Kellermann committed suicide during his tenure at Freddie. [17], In 1981, Fannie Mae issued its first mortgage pass-through and called it a mortgage-backed security. Those investments bolstered profits but, in the bust, contributed to steep losses that ultimately resulted in the companies' 2008 government takeover. Join the Opportunity Zone Alliance. Duration gap is a financial and accounting term for the difference between the duration of assets and liabilities, and is typically used by banks, pension funds, or other financial institutions to measure their risk due to changes in the interest rate. As a Government Sponsored Enterprise, or GSE, Fannie Mae is compelled by law to provide liquidity to loan originators in all economic conditions. [citation needed] The others have seats on the powerful Appropriations or Ways & Means committees, are members of the congressional leadership or have run for president. [91], "FNMA" redirects here. [citation needed], In 1996, the Congressional Budget Office wrote "there have been no federal appropriations for cash payments or guarantee subsidies. element.addEventListener(eventName, fn, false); In 1992, President George H.W. A bill to provide needed housing reform and for other purposes. [6], Historically, most housing loans in the early 1900s in the United States were short term mortgage loans with balloon payments. Unfortunately, Fannie Mae-quality, safe loans in the subprime market did not become the standard, and the lending market moved away from us. By 1933, an estimated 20 to 25% of the nation's outstanding mortgage debt was in default. As such, Ginnie Mae is the only home-loan agency explicitly backed by the full faith and credit of the United States government. Please resubmit. "Now it appears that the government has negotiated a deal to hold the government, and government-appointed executives who have signed the same disclosures since my departure, blameless so that it can sue individuals it fired years ago," he said in a statement last week. Spacex Car Emblem, Lace Monitor Baby, The Desktop Underwriter Findings will be displayed. [71] The Economist has referred to "the implicit government guarantee"[72] of FHLMC and FNMA. System IDs or user IDsmay be used to access DU/DO through theclassic UI(3.2 and 2.3.1 formats) launch buttons on theDU/DO webpage. [16] That same year FNMA went public on New York and Pacific Exchanges. ^e _rels/.rels ( MK1!;*"l/EMd1`7FAtzwyfx{vE fVKrFH"l3*>.%uGV=\i8XrZJ%\P4H;s>67Mizo#+DYB5V$~"c'ZkRRF%8EsF|02Xn/1=cW7 PK ! Per Fannie Mae Email to Technology Managers. The following is a list of Fannie Maes published special feature codes (SFC) applicable to delivery of single-family mortgage loans. xl/workbook.xmlVmo0>iCyj2JT]r VGy3jFm\f)ZSQ05|ejYj?BBPK\zQD Hq490X 711.02 Eligibility. DPM Job Aid - link to this document 3. [88] The bill would require that the cost of direct loans or loan guarantees be recognized in the federal budget on a fair-value basis using guidelines set forth by the Financial Accounting Standards Board. For ranges, you can enter a minimum, maximum, or both. Horse In 3d Google, Fannie Mae is fully operational and taking every step to help ensure a safe and sound housing market amid the Coronavirus (COVID-19) crisis. 1461), in the spring of 2005. Fannie Mae Executes its First Credit Insurance Risk Transfer Transaction of 2023 on $11.8 Billion of Single-Family Loans February 27, 2023 Fannie Mae Releases January 2023 Monthly Summary [30] Sen. John McCain's decision to become a cosponsor of S.190 almost a year later in 2006 was the last action taken regarding Sen. Hagel's bill in spite of developments since clearing the Senate Committee. Note: Could mean that there is an issue with the file permissions associated to the credit report. The FHFA is reportedly seeking $4 billion from JPMorgan to resolve its claims over $33 billion worth of securities sold to Fannie and Freddie by JPMorgan, Bear Stearns and WaMu. Hugo Armstrong Height, The Desktop Underwriter Findings will be displayed. This is known as the "conforming loan limit". Fannie mae message id 3403. parts of this Multifamily Selling and Servicing Guide, are granted to Fannie Mae-approved Lenders strictly for their own use in originating and selling multifamily Mortgage Loans to, and servicing multifamily Mortgage Loans for, Fannie Mae. window.a2a_config=window.a2a_config||{};a2a_config.callbacks=[];a2a_config.overlays=[];a2a_config.templates={}; Arica Himmel Family, Michigan High School Basketball Records Since 1950, Wiley Blackwell Publishing Location, Today, more than ever, mortgage industry professionals need to save time to generate more business. Andrea Tantaros Married, Note: You will only see the enhanced HTML version of the DU Underwriter Findings Report in your Loan Origination System (LOS) if your LOS requests the corresponding file type for it, which is 16. Hugo Armstrong Height, The Desktop Underwriter Findings will be displayed. In early 2008, the decision was made to allow TBA (To-be-announced)-eligible mortgage-backed securities to include up to 10% "jumbo" loans.[68]. The additional leverage allows for greater returns in good times, but put the companies at greater risk in bad times, such as during the subprime mortgage crisis. Pedigree Pug Names, 9: DUNS (Data Universal Numbering System) with 4 digit suffix: Partner identification code assigned by Dun & Bradstreet with the 4 digit suffix. Fannie mae message 3403 - WeTheTeam. Love Yourself First In Latin, Borrowers with lower housing expense ratios are considered lower risk, while those with higher housing expense ratios are considered higher risk. 2023 ICE Mortgage Technology, Inc. All Rights Reserved. In 1999, Fannie Mae came under pressure from the Clinton administration to expand mortgage loans to low and moderate income borrowers by increasing the ratios of their loan portfolios in distressed inner city areas designated in the Community Reinvestment Act (CRA) of 1977. Love Yourself First In Latin, Borrowers with lower housing expense ratios are considered lower risk, while those with higher housing expense ratios are considered higher risk. Fannie mae message msg id 3403. 1056 0 obj
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DU performs a comprehensive evaluation of these factors, weighing each factor based on the amount of risk it represents and its importance to the recommendation. Icarus References In Pop Culture, Little Dee Jail, Smart 453 Turbo Upgrade, There may be multiple Underwriting Findings reports for the same loan casefile. Mooer Ge150 Review, To see the Underwriting Analysis Report, click the associated link in the right-side menu. [35] Then in 20032004, the subprime mortgage crisis began. Home; Fannie Mae and EDI Code Conversions. [22], In 1999, The New York Times reported that with the corporation's move towards the subprime market "Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. Competition between the GSEs and private securitizers for loans further undermined GSEs' power and strengthened mortgage originators. Boost mobile compared to verizon 1 . validated with the SSA, the loan is not eligible for deli very to Fannie Mae. Icarus References In Pop Culture, Little Dee Jail, Smart 453 Turbo Upgrade, There may be multiple Underwriting Findings reports for the same loan casefile. "The magnitude of falsity, conservatively measured, is enormous", she wrote. endstream
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Fannie, however, became a private corporation, chartered by Congress and with a direct line of credit to the US Treasury. One of the most important things to realize is before a mortgage loan application can be processed and underwritten is to get a DU ( Desktop Underwriter) automated approval by Fannie Maes Automated Underwriting System. Reverso Correcteur De Texte En Espagnol, button to return to the Loan Information screen. [87], On May 8, 2013, Representative Scott Garrett introduced the Budget and Accounting Transparency Act of 2014 (H.R. The shift toward riskier mortgages and private label MBS distribution occurred as financial institutions sought to maintain earnings levels that had been elevated during 20012003 by an unprecedented refinancing boom due to historically low interest rates. In addition, Fannie MBS, like those of Freddie Mac MBS and Ginnie Mae MBS, are eligible to be traded in the "to-be-announced" or "TBA" market. Originally chartered as the National Mortgage Association of Washington, the organization's explicit purpose was to provide local banks with federal money to finance home loans in an attempt to raise levels of home ownership and the availability of affordable housing. (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ This was clearly stated in the law that authorizes GSEs, on the securities themselves, and in many public communications issued by Fannie Mae. Circuit Decision On The "Net Worth Sweep" Was Not A Clean Sweep For The Government - The Federalist Society", "Fannie's Perilous Pursuit of Subprime Loans", "Mortgage Giant Overstated the Size of Its Capital Base", "Freddie Mac and Fannie Mae: Corporate Welfare King & Queen | Cato Institute", Capital Adequacy Guidelines for Bank Holding Companies: Tier 1 Leverage Measure, "12 U.S. Code 1723a - General powers of Government National Mortgage Association and Federal National Mortgage Association", "Assessing the Public Costs and Benefits of Fannie Mae and Freddie Mac | Congressional Budget Office", "Report: Both sides in Fannie Mae suit move for summary judgment | Legal Newsline", "Countrywide Friends Got Good Loans - WSJ", "SEC Charges Former Fannie Mae and Freddie Mac Executives with Securities Fraud; Release No. Wait for 5 minutes then the ID can be inputted in Settings / Actions area. Required fields are marked *. If underwriting findings have not yet been returned for the loan casefile, the Desktop Underwriter Findings links will not appear. [39], Fannie stock plunged. Investors, or purchasers of Fannie Mae MBSs, are willing to let Fannie Mae keep this fee in exchange for assuming the credit risk; that is, Fannie Mae's guarantee that the scheduled principal and interest on the underlying loan will be paid even if the borrower defaults. Patsy Ann Noble, However, the lender is required to indemnify Fannie Mae (as described in A2-1-03, Indemnification for Losses) against all losses incurred by Fannie Mae as a result of the physical condition of the street or in order to establish and/or retain access to the street. The charter also limited their business activity to the mortgage market. The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company.Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS . The GSEs only buy loans that are conforming to repackage into the secondary market, lowering the demand for non-conforming loans. UCD Edit ID Associated Data Point(s) . [37], On July 11, 2008, The New York Times reported that U.S. government officials were considering a plan for the U.S. government to take over Fannie Mae and/or Freddie Mac should their financial situations worsen due to the U.S. housing crisis. Custom DU: A Web-Based Business User-Driven Automated Underwriting System. [56], Fannie Mae's 2014 financial results enabled it to pay $20.6 billion in dividends to Treasury for the year, resulting in a cumulative total of $134.5 billion in dividends through December 31, 2014 approximately $18 billion more than Fannie Mae received in support. exp. those not insured by the FHA, VA, or FmHA, and created the Federal Home Loan Mortgage Corporation (FHLMC), colloquially known as Freddie Mac, to compete with Fannie Mae and thus facilitate a more robust and efficient secondary mortgage market. Each individual user needs to have their own user ID. Statement of Administration Policy: H.R. "[33] The legislation met with opposition from both Democrats and Republicans at that point and the Senate never took up the House passed version for consideration after that.[34]. The firms have been controlled by the FHFA since their 2008 rescue. My&6S*_ ?=
Yamaha Tsr-700 Firmware Update, Earnings depended on volume, so maintaining elevated earnings levels necessitated expanding the borrower pool using lower underwriting standards and new products that the GSEs would not (initially) securitize. Click the hyperlink in the Underwriting Recommendation column for the loan casefile. Computer Software and Services. [64], Fannie Mae is a purchaser of mortgages loans and the mortgages that secure them, which it packages into mortgaged-backed securities (MBS). 2022 Fannie Mae 1 Continued on page 2 Key Points to Remember If you submitted a casefile with the borrower's rent payment amount, but did not order a VOA report with 12 months of data, look for a message in the Risk/Eligibility section in the DU Findings report (MSG ID 15). -Fannie Mae Website . The regulations require normal financial institutions to maintain a capital/asset ratio greater than or equal to 3%. The initial annual goal for low-income and moderate-income mortgage purchases for each GSE was 30% of the total number of dwelling units financed by mortgage purchases[21] and increased to 55% by 2007. [11] For the first thirty years following its inception, Fannie Mae held a monopoly over the secondary mortgage market. The necessary restatement was expected to cost $10.8 billion, but was completed at a total cost of $6.3 billion in restated earnings as listed in Fannie Mae's Annual Report on Form 10-K.[78], Concerns with business and accounting practices at Fannie Mae predate the scandal itself. SG_POPUPS_QUEUE = [];var switchTo5x=true; margin: 0 .07em !important; [31][32], At the same time, the House also introduced similar legislation, the Federal Housing Finance Reform Act of 2005 (H.R. Note:You can also click the hyperlink under Underwriting Recommendation in the Loan Information screen or the View Findings link in the navigation bar on the left side of the Loan Information screen. window._wpemojiSettings = {"baseUrl":"https:\/\/s.w.org\/images\/core\/emoji\/2.2.1\/72x72\/","ext":".png","svgUrl":"https:\/\/s.w.org\/images\/core\/emoji\/2.2.1\/svg\/","svgExt":".svg","source":{"concatemoji":"https:\/\/www.opportunityzonehub.org\/wp-includes\/js\/wp-emoji-release.min.js?ver=4.7.19"}}; To print the report you are currently viewing, click the PRINT button. On September 7, 2008, James Lockhart, director of the Federal Housing Finance Agency (FHFA), announced that Fannie Mae and Freddie Mac were being placed into conservatorship of the FHFA. Parker Posey Married, Security Hasp Container, Lace Monitor Baby, MikeSP: 2/6/21: Bruce Berkowitz Comments on Fannie Mae and Freddie Mac??? If the data DU considered was an accurate representation of the borrower's income, assets . The intent was that Fannie Mae's enforcement of the underwriting standards they maintained for standard conforming mortgages would also provide safe and stable means of lending to buyers who did not have prime credit. (MSG ID 0027). Zodiac Signs With Most Common Sense, My web page. Create a system ID, and be sure to Grant Desktop Originator or other applications as needed by Fannie Mae. m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) Fannie Mae's charter has historically prevented it from guaranteeing loans with a loan-to-values over 80% without mortgage insurance or a repurchase agreement with the lender;[9] however, in 2006 and 2007 Fannie Mae did purchase subprime and Alt-A loans as investments. As loan originators began to distribute more and more of their loans through private label PLS's, the GSEs lost the ability to monitor and control loan originators. Moberg Smokers Reviews, endstream
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After being reported favorably by the Senate's Committee on Banking, Housing, and Urban Affairs in July 2005, the bill was never considered by the full Senate for a vote. What Is Your Occupation , Canadian Singer Lisa Hoffman, View Release Notes The Show Changes function displays message changes that have occurred since the most immediate version of the casefile was submitted through DU. Regulations exist through the FDIC Bank Holding Company Act that govern the solvency of financial institutions. The US Treasury Department and the Federal Reserve took steps to bolster confidence in the corporations, including granting both corporations access to Federal Reserve low-interest loans (at similar rates as commercial banks) and removing the prohibition on the Treasury Department to purchase the GSEs' stock. [52][53][54], On June 16, 2010, Fannie Mae and Freddie Mac announced their stocks would be delisted from the NYSE. We sought to bring the standards we apply to the prime space to the subprime market with our industry partners primarily to expand our services to underserved families. On June 15, 2000, the House Banking Subcommittee On Capital Markets, Securities And Government-Sponsored Enterprises held hearings on Fannie Mae. This BLOG On Errors On Credit Reports & How It Affects AUS FINDINGS Was UPDATED And PUBLISHED On April 23rd, 2020. Refer with Caution. In 2022, Fannie Mae was ranked number 33 on the Fortune 500 rankings of the largest United States corporations by total revenue. 1056 0 obj
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DU performs a comprehensive evaluation of these factors, weighing each factor based on the amount of risk it represents and its importance to the recommendation. If they went bankrupt there would be mass upheaval on a global scale.[43]. This message will inform you if ordering In April 15, 2014 Fannie Mae released its updated selling guide.. Grant Wilson Richmond, Ky, List Of Black Nfl Head Coaches, Fannie Mae, Freddie Mac Third-Quarter Earnings Rise on Mortgage Refinance Boom Dow Jones News - 10/29/2020 12:09:00 PM Quarterly Report (10-q) Edgar (US Regulatory) - 10/29/2020 7:22:49 AM Current Report Filing (8-k) Edgar (US Regulatory) - 10/13/2020 4:12:08 PM State Diagram Calculator Digital Logic, The bill, if it were passed, would modify the budgetary treatment of federal credit programs, such as Fannie Mae and Freddie Mac. Hugo Armstrong Height, The Desktop Underwriter Findings will be displayed. height: 1em !important; [88] The changes made by the bill would mean that Fannie Mae and Freddie Mac were counted on the budget instead of considered separately and would mean that the debt of those two programs would be included in the national debt. element.attachEvent('on' + eventName, fn); Research has shown that borrowers with no active installment accounts represent a higher risk than borrowers who have active installment accounts. The Reluctant Astronaut Full Movie, Boost mobile compared to verizon 1 . You can view and print the Underwriting Findings and Underwriting Analysis reports in DU that have already been requested for a loan casefile. The order brought to conclusion a rare trial addressing alleged mortgage-related infractions committed during the housing boom. 711.02 A Borrowers, Key Principals, Guarantors, and Principals. {
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u+t Eastside Funeral Home Obituaries, Not applicable. In July 2008, the government attempted to ease market fears by reiterating their view that "Fannie Mae and Freddie Mac play a central role in the US housing finance system". 3414 3/31/2022. The Charlotte-based firm is facing claims from the FHFA over $57 billion worth of mortgage bonds. Smart 453 Turbo Upgrade, This feature is only available in reports that have at least two submissions. McCain pointed out that Fannie Mae's regulator reported that profits were "illusions deliberately and systematically created by the company's senior management" in his floor statement giving support to S.190. This depreciation in home prices led to growing losses for the GSEs, which back the majority of US mortgages. Launch Ask Poli for Sellers . If two users log into the new UI using the same user ID, the user who first logged in will be logged out of DU/DO and their work will not be saved. You can view and print the Underwriting Findings and Underwriting Analysis reports in DU that have already been requested for a loan casefile. For example, Tom Lund, the head of our single-family mortgage business, publicly stated, "One of the things we don't feel good about right now as we look into this marketplace is more homebuyers being put into programs that have more risk. fannie mae message 3403 Nov 3, 2020 The Summary section, at the top of the Underwriting Findings report, contains the underwriting recommendation, property address, loan-to-value ratio, combined loan-to-value-ratio, and other key loan data. Long Distance Pigeon Racing Tips, Security Hasp Container, Trademarks of Fannie Mae. Amended and Restated Multifamily Security Instrument Florida, Consolidation, Extension and Modification Agreement (New York), Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status), Multifamily Underwriting Certificate (Borrower), Joint and Several Borrowers with Multiple Properties, Subordination, Non-Disturbance and Attornment, Tenant Estoppel Certificate; Lease Modification, Acceptable Renewable Energy Generation Systems, Underwritten Net Cash Flow (Underwritten NCF), Property Previously Secured Bond Financing, Exception for Taxes, Assessments, or Other Lienable Items, Environmental Protection Lien Endorsement, Uniform Commercial Code (UCC) Financing Statements, Creating and Perfecting the Security Interest, General Insurance Applies to All Policies, Blanket and Other Policies Covering Multiple Properties, Business Income (including Rental Value) Insurance, Boiler and Machinery / Equipment / Mechanical Breakdown Insurance, Risk Retention Groups and Captive Insurance, Directors and Officers Liability Insurance, HPB Module, HPB Report, and Technical Solar Report Scoring, HPB Module, HPB Report, and Technical Solar Report Approval, Dependency and Medicaid Transition Reserve, Management, Operations, and Regulatory Compliance, Collateral; Tenant-Occupied and Affiliate-Owned Homes, Public Roadways, Private Interior Roadways, and Drives, Eligible Characteristics and Underwriting, Ineligible Characteristics and Underwriting, Affordable Regulatory Agreement Restrictions, Lien Priority and Title Insurance Policy, Additional Underwriting and Loan Documents, Properties with Both HAP Contracts and LIHTC Units, Transactions Funded with Tax-Exempt Bond Proceeds, Fannie Mae Credit-Enhanced Tax-Exempt Bond Issuance, Borrowers, Key Principals, Guarantors, and Principals, Lender FHA Risk Sharing Reserve and Loss Sharing Modifications, Cooperative Market Rental Basis NCF (Underwritten NCF), Cooperative Market Rental Basis DSCR (Underwritten DSCR), Small Mortgage Loan Underwritten NCF (Underwritten NCF), Site Inspection by Lender or Other Third Party, Prepayment Option 1 Declining Prepayment Premium Schedule, Prepayment Option 2 - 1% Prepayment Premium Schedule, Including the Cap Cost Factor in the Variable Underwriting Rate, Interest Rate Cap Contract Documentation and Delivery, Borrower, Guarantor, Key Principals, and Principals, Interest Rate Determination and Rate Lock, UCC Continuations, Amendments, and Terminations, Releasing/Reducing Letters of Credit or Other Collateral, Monthly Securitized Mortgage Loan Security Balance Reporting, Same Month Pooling Security Balance for First Reporting Cycle, Security Balances Due by Second Business Day, Monthly MBS Mortgage Loan Reconciliations - Pool-to-Security Balance Reconciliations (Not Applicable to PFP MBS), Required Annual Adjustment to Correct Principal Balance vs. Security Balance Difference, Pool-to-Security Reconciliation Certification, Adjustable Rate Mortgage Loan Interest Rate Changes and Required Monthly Payments, Monthly Reporting for ARM Loan Payment/Rate Changes, Delinquency Advances on a Mortgage Loan other than a Credit Enhancement Mortgage Loan, Delinquency Advances on a Credit Enhancement Mortgage Loan, Servicing Advances on a Mortgage Loan other than a Credit Enhancement Mortgage Loan, Servicing Advances on a Credit Enhancement Mortgage Loan, Duration of Payment of Delinquency Advances or Servicing Advances, Reimbursement for Delinquency and Servicing Advances, Repayment of Servicing Advances from Borrower, No Capitalization of Servicing Advances for Securitized Mortgage Loans, Monthly P&I Remittance Due Dates for Cash and MBS Transactions, Additional Requirements for Monthly Remittance for Security Transactions, Securitized Mortgage Loans Remitting Fees to Fannie Mae, Guaranty Fee Due on 7th Calendar Day of Month, Same Month Pooling Interest and Guaranty Fee Remittance for First Reporting Cycle, Notification to Fannie Mae if Unable to Have Funds Available on any Remittance Date, Review of Applicable Loan Documents Required, Notification of Prepayment; Timing of Prepayment, Notice and Timing Consistent with Loan Documents, Borrower Notice Must Contain Date of Intended Prepayment and Comply with Notice Requirements of the Loan Documents, Loan Document Requirements for Payoff and Lockout Dates, Notice to Fannie Mae of Proposed Payoff; Use of Fannie Mae Payoff Calculator, Timing of Confirmation of the Full Prepayment Payoff Amount, Full Prepayment for Cash Transactions and PFP MBS, Confirming the Full Prepayment Payoff Amount, Full Prepayment for Securitized Transactions (Not Applicable to PFP MBS), Fannie Mae Approval Required for Partial Prepayments, Prepayment Premium Due on Partial Prepayment, Reporting and Remitting Partial Prepayments When Not Permitted in Loan Documents, Reporting and Remitting Partial Prepayments When Permitted in Loan Documents, Reporting and Remitting Partial Prepayments, Yield Maintenance Prepayment Premiums Prepayment Occurs Before the Yield Maintenance Period End Date, Calculation of Investors Share of Total Prepayment Premium for a Securitized Mortgage Loan, Calculation of Fannie Maes Share of Total Prepayment Premium, Calculation of Servicers Share of Total Prepayment Premium, Yield Maintenance Prepayment Premiums Prepayment Occurs On or After the Yield Maintenance Period End Date, Prepayment On or After Yield Maintenance Period End Date, Fixed Rate Mortgage Loans with Graduated Prepayment Premiums, Prepayment Premiums for ARM Loans and Structured ARM Loans, Prepayment Premium Waivers; Servicers Share of Prepayment Premium, Servicer Notification of Payoff Amount to Borrower, Calculating and Obtaining Confirmation of Payoff Amount, Fannie Mae Will Not Confirm Nor Is Responsible for Amounts Owing to Servicer, Fannie Mae Confirmation of Full Payoff Amount, No Quote to Borrower Until Fannie Mae Confirmation, Reporting the Payoff and Remitting the Payoff Funds, Reporting Full Payoff Amount Through the eServicing System Due By 2nd Business Day of Month, Post Payoff Document Retention Requirements, Monthly Bond Credit Enhancement Reporting, Monthly Remittances of Scheduled Payments to Bond Trustee, Replenishment of Withdrawals from the PRF, Collection and Remittance of Borrower Reimbursement Obligations for Fannie Mae Advances, Notice and Collection of Other Fees and Expenses, Bond Redemption Premiums Payable to Bondholders, Termination Fee or Prepayment Premium Payable to Fannie Mae, Termination When No Prepayment Occurs; Weekly Variable Rate Transactions, Mortgage Loan Documents Must Permit Defeasance, Notifying the Internal Revenue Service about Abandonments or Acquisitions (IRS Form 1099-A), Notifying the Internal Revenue Service about Cancellations of Indebtedness (IRS Form 1099-C), Coordination with Reporting Abandonments or Acquisitions, Borrower's T&I Impositions and Custodial Accounts, Monitoring Compliance with Loan Documents, Servicer Certification When Fannie Mae Approval Is Not Required, Servicer Certification When Fannie Mae Approval Is Required, Submitting the Request for Subordinate Financing, Funds as Additional Security for Mortgage Loan, Waiver or Modification of Terms of Collateral Agreement, Achievement Agreement or Other Agreement for Additional Collateral, Draws on Letters of Credit or Application of Other Collateral, Releasing Additional Escrows for Principal and Interest, Taxes and Insurance, and Replacement Reserves, Completion/Repair Loan Document Amendments, Green Rewards Efficiency Measure Verification, Replacement Reserve Loan Document Amendments, Modifications to Replacement Reserve Deposits, When Replacement Reserve Funding Was Partially or Fully Waived, Items Eligible for Funding from the Replacement Reserve, Items Not Eligible for Funding from the Replacement Reserve, Return of Replacement Reserve Funds to Borrower, Alternative Funding of Replacement Reserves for Portfolio Mortgage Loans, Replacement Interest Rate Hedge and Notification, Replacement Interest Rate Hedge Documents and Follow Up, No Financing for Property and Liability Insurance Premiums, Flood Map Changes; Obtaining Flood Insurance, Servicers Administrative Costs and Expenses, Required Casualty Loss Property Inspection, Documentation for Required Casualty Loss Property Inspections, Endorsement of Insurance Loss Draft or Check When Payable to Fannie Mae, Endorsement of Insurance Loss Draft or Check When Not Payable to Fannie Mae, Insurance Loss Draft or Check Not Payable to Either Fannie Mae or Servicer, Borrowers Failure to Diligently Pursue Repair, Decisions Delegated by the Delegated Transaction Form 4636 series, Supplemental Mortgage Loans Not Permitted, Decisions and Actions Delegated and Not Delegated, Seniors Housing Expansion/Conversion Requests, Request Changes in Unit Count/Mix in the MAMP, Bond Transactions and Credit Enhancement Mortgage Loans, Compliance Issues Relative to Bond Credit Enhancement Transactions, Monitoring Compliance; Notification of Noncompliance, Default Notice for Failure to Comply with the Bond Documents, Multifamily Affordable Housing (MAH) Properties, HAP Contract Approval and Releasing Restabilization Reserve, Quarterly Financial Analysis of Operations, Borrower Fails to Provide Guarantor Financial Reports, Lender Tenders for Minor or Immaterial Defaults, Definition of Non-Performing Mortgage Loan, Partial Payments by Borrower Do Not Change Date of Default, Timing for Imposition of Late Charges and Default Interest, No Deduction for Late Charges or Default Interest, Enforceability of Late Charges and Default Interest, Notice to Fannie Mae of Performance Default, Full Payment After Expiration of Period Before Assessing Late Charges, Copies of Letters Sent to Borrower; Correspondence with Borrower, Funding Capital Repairs During Default Resolution, Documenting the Property Management Change, Servicer Performs Loss Mitigation Actions, Servicer Workout Action Template (SWAT), Fannie Mae Performs Loss Mitigation Actions, Election and Implementation of a Course of Action, Course of Action Lender Purchase of Mortgage Loan, Course of Action Lender Workout Election, Documentation and Terms of Lender Workout, Lender Workout Has No Impact on Loss Sharing or Recourse Obligation, Servicer Makes Delinquency Advances But Fails to Report Mortgage Loan Delinquent, Foreclosure Process Continues Unless Otherwise Agreed to by Fannie Mae, Delinquency Advances Must Be Made During Negotiation of Joint Workout, Modification, Extension, and Forbearance Fees, Management of Property Post Title Vesting in Fannie Mae, Course of Action Note Sale Election or Discounted Loan Payoff, Note Sale and Discounted Loan Payoff Defined, Any Note Sale or Discounted Payoff Gives Rise to Loss Sharing Event, Note Sale Secondary Risk Mortgage Loans, Discounted Loan Payoff - Secondary Risk Mortgage Loans, Calendar Days 31 through 60 after a Payment Default or Performance Default, No Disclosure of Lenders Contract Terms to Borrower; Borrower Not a Third-Party Beneficiary of Lender Contract, Asset Audits for Secondary Risk Mortgage Loans, Special Requirements for the Environmental Assessment, Appraisal Notice and Election of Appraisal Methodology, Registration and Multifamily Affordability Estimator, Key Principals, Principals, and Guarantors, Escrow Requirements for Taxes and Insurance, Rehabilitation Work Costing More than $20,000 Per Unit, Continuing Care Retirement Communities (CCRCs), Multifamily Affordable Housing Properties, Restrictive Covenants and Affordable Regulatory Agreements, Refinancing Section 236 Properties IRP is Maintained, LIHTC Properties Lender Equity Interest, Transactions with Fannie Mae Debt and Equity Interests, Borrower, Key Principals, Guarantors, and Principals, ARM 5/5 Loan Optional 5-Year Adjustable Rate Term Renewal Eligibility, Structured Adjustable Rate Mortgage (SARM) Loans, Hybrid Adjustable Rate Mortgage (Hybrid ARM) Loans, Split Mortgage Loans and Bifurcated Mortgage Loans, Fannie Mae LIHTC Investment in Credit-Enhanced Bonds, Taxable Tails and Supplemental Mortgage Loans, Moderate Rehabilitation Mortgage Loan with Side-by-Side Bond Financing, Third Party MBS Investor Delivery Scenarios, ARM 5/5 Optional 5-Year Adjustable Rate Term Renewal, Credit Enhancement Mortgage Loan Committing and Delivery, Collection, Tracking and Reporting of Monthly P&I Payments and T&I Amounts, Reporting Loan Activity and Security Balance, ARM Loan Interest Rate and Monthly Payment Changes, Partial Prepayments Not From Insurance or Condemnation Proceeds, Prepayments (Full or Partial) Involving Insurance Proceeds or Condemnation Awards, DUS Bond Credit Enhancement Transactions Reporting and Remitting Requirements, Reporting Collateral Balances in Custodial Accounts, Internal Revenue Service Reporting Requirements, Asset Management: Loan Document Administration, Delegation of Decision-Making Authority; Retention of Outside Legal Counsel, Execution of Documents by Servicer Limited Power of Attorney, Notice of Lien or Noncompliance with Applicable Laws, Ordinances and Regulations, Casualty Losses Performing Mortgage Loans, Casualty Losses Non-Performing Mortgage Loans, Credit Enhancement Mortgage Loans and Multifamily Affordable Housing Properties, MH Communities with Tenant Site Lease Protections, Secondary Risk Mortgage Loans and Primary Risk Mortgage Loans, Capital Repairs and Protection of Property and Property Income, Reinstatement; Calculation of Payoff Amount, Non-Performing Primary Risk Mortgage Loans Transfers to Fannie Mae Special Asset Management, Non-Performing Secondary Risk Mortgage Loans Special Servicing, Special Servicing of Primary Risk Mortgage Loans, Loss Sharing and the Appraisal Process in connection with a Foreclosure Event.