Payment Collection

Payment collection relates to the receipt and application of the monthly payment.  The information that must be reported includes:

• actual last paid installment ("LPI LPIDue date of the last payment received. ") date;
• actual UPB UPBUnpaid Principal Balance ; and
• remittance amount (distributed between P&I P&IPrincipal and interest ).

Under the Same Month Pooling Same Month PoolingDelivery option permitting Mortgage Loans to be pooled and secure an MBS issued in the same month as the Mortgage Loan Origination Date. option, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must not report a principal distribution amount for the first reporting cycle following the Issue Date Issue DateFirst day of the month a Security is issued.  of the Security Pool because no payment will have come due from the Borrower BorrowerPerson who is the obligor per the Note. .  For the first reporting cycle, the actual UPB UPBUnpaid Principal Balance of the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 will equal the Issue Date Issue DateFirst day of the month a Security is issued.  principal balance, as no principal payment will be subtracted from the Security Balance Security BalanceFor an MBS Pool, the Issue Date Principal Balance minus any MBS principal distribution amounts included in previous MBS monthly remittances. or passed through to the Investor InvestorMBS Investor for an MBS Mortgage Loan, or Fannie Mae for a Cash Mortgage Loan. .