Remitting Full Prepayment Payoff Amount

Under MBS MBSMortgage-Backed Security , the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must remit a full month's accrued interest (calculated at the MBS MBSMortgage-Backed Security Pass-Through Rate Pass-Through RateMortgage Loan Gross Note Rate minus: for MBS Mortgage Loans, the Guaranty Fee, minus the Servicing Fee; and for Cash Mortgage Loans, the Servicing Fee. ) for each month that the MBS MBSMortgage-Backed Security is outstanding, even if a full or partial prepayment occurs during that month.  Any shortfall between the interest collected from the Borrower BorrowerPerson who is the obligor per the Note. and the full month's interest that is due to Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! must be deposited in the Servicer's Servicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. MBS MBSMortgage-Backed Security P&I Custodial Account P&I Custodial AccountCustodial Account for principal and interest deposits. from the Servicer's Servicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. own funds and remitted to Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! .  The Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must also remit a full month's Guaranty Fee Guaranty FeeFee retained by Fannie Mae for credit enhancing a Mortgage Loan or assuming credit risk on a Mortgage Loan, and which may be expressed as a percentage. for each month that the MBS MBSMortgage-Backed Security is outstanding, even if a full or partial prepayment occurs during that month.

The Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must remit the prepayment amount on the Remittance Date Remittance DateThe 18th day of each month (or the preceding Business Day if the 18th is not a Business Day) on which you must submit your remittance to Fannie Mae for the Mortgage Loan. in the month after the payoff occurs per the remittance requirements in this Chapter.