214.03C

Fannie Mae Confirmation of Full Payoff Amount

Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will review the Servicer'sServicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. figures and contact the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. to reconcile any discrepancies.  Upon completion of its review and any necessary reconciliation, Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will respond (in writing) to the Servicer'sServicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. verification request.  In its response, Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! will confirm the total payoff amount due to Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! , as well as the individual items comprising such total amount, including:

  • the UPBUPBUnpaid Principal Balance of the Mortgage LoanMortgage 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. ;
  • the net accrued interest due Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ;
  • any applicable Prepayment PremiumPrepayment PremiumFor a Mortgage Loan prepayment, amount the Borrower must pay in addition to the prepaid principal and accrued interest per the Loan Documents. ; and
  • any previously unpaid fees or other amounts owed to Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! .

Fannie MaeFannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! also will provide any pertinent instructions for completing the payoff process, including any specific instructions that the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must pass along to the BorrowerBorrowerPerson who is the obligor per the Note. with the payoff quote.