Fannie Mae Selling Guide C3-2-03 — MBS Remittance Type and Selecting a Remittance Cycle

fnma-sel-c3-2-03

Fannie Mae Selling Guide C3-2-03 — MBS Remittance Type and Selecting a Remittance Cycle.

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Fannie Mae Selling Guide C3-2-03 — MBS Remittance Type and Selecting a Remittance Cycle

Effective 2011-10-25 · publisher's stamp for this provision

C3-2-03, MBS Remittance Type and Selecting a Remittance Cycle (10/25/2011) Introduction In this topic, the lender’s options with respect to remitting principal and interest on MBS pool loans are addressed, including: MBS Pool Remittance Type Standard Remittance Cycle MBS Pool Remittance Type All MBS mortgages are accounted for as the scheduled/scheduled remittance type. This means that a servicer may have to advance its own funds to cover the amount Fannie Mae is due on a mortgage for which the monthly payment of principal and interest is late. Standard Remittance Cycle Under the standard remittance cycle, lenders remit scheduled P&I payments on the 18th of the month in which they are due from the borrowers (or, if the 18th is not a business day, on the business day preceding the 18th). Unscheduled principal payments must be remitted by the 18th of the month following collection.

Source: Fannie Mae Selling Guide C3-2-03 — MBS Remittance Type and Selecting a Remittance Cycle · source URL · snapshot 2897f21e1e729b42

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Source of record: https://claudeforcompliance.com/regs/fnma-sel-c3-2-03/ · register fnma-sel-c3-2-03 · 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.