Fannie Mae Selling Guide C2-1.1-05 — Servicing Fees

fnma-sel-c2-1-1-05

Fannie Mae Selling Guide C2-1.1-05 — Servicing Fees.

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Verbatim provisions from Fannie Mae Selling Guide C2-1.1-05 — Servicing Fees — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Fannie Mae Selling Guide C2-1.1-05 — Servicing Fees

Effective 2019-05-01 · publisher's stamp for this provision

C2-1.1-05, Servicing Fees (05/01/2019) Introduction This topic describes how Fannie Mae compensates lenders for servicing loans on its behalf, including: Determining and Obtaining a Servicing Fee Determining and Obtaining a Servicing Fee A lender’s servicing compensation when obtaining mandatory commitments is described in its applicable servicing contract. Lenders must also specify a maximum allowable servicing fee, which may differ, depending on the mortgage product. For example, the maximum servicing fee for all fixed-rate loans is 50 basis points (.50%). Unless otherwise provided in the related servicing contract, every month, lenders deduct their servicing fee from the borrower’s interest payment before remitting the remainder to Fannie Mae. Lenders will receive a servicing fee from Fannie Mae only for the period during which it serviced the loan on Fannie Mae’s behalf. For additional information regarding minimum and maximum servicing fees, refer to Servicing Guide F-2-09, Servicing Fees for Portfolio Mortgage Loans.

Source: Fannie Mae Selling Guide C2-1.1-05 — Servicing Fees · source URL · snapshot 2897f21e1e729b42

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Source of record: https://claudeforcompliance.com/regs/fnma-sel-c2-1-1-05/ · register fnma-sel-c2-1-1-05 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.