216.06

Prepayments: Remittances

The Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must remit any Prepayment Premium Prepayment PremiumFor a Mortgage Loan prepayment, amount the Borrower must pay in addition to the prepaid principal and accrued interest per the Loan Documents. and/or Termination Fee due Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! by 2:00 p.m. Eastern Time, on the next Business Day Business DayAny day other than a Saturday, Sunday, day when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. following the day on which the Borrower’s Borrower’sPerson who is the obligor per the Note. prepayment is received.

Depending on the execution and transaction type, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must also be concerned with invoicing, collecting and remitting the principal amount 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 to be prepaid.  In all cases, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must invoice and collect the principal amount being prepaid from the Borrower BorrowerPerson who is the obligor per the Note. .  No prepayment of Direct Pay Direct PayCredit enhancement under which Fannie Mae makes principal and interest payments directly to the Bond Trustee (for payment to bondholders) regardless of whether the Borrower has reimbursed Fannie Mae for such payments. Facilities will be allowed until Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! receives the necessary funds from the Borrower BorrowerPerson who is the obligor per the Note. .

Any prepayment of principal on any 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 received by the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. shall be paid, as follows:

1.  Standby Execution:  Prepayments shall be remitted to the Bond Trustee Bond TrusteeTrustee for a Credit Enhancement Instrument. not later than the Bond BondTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. Business Day Business DayAny day other than a Saturday, Sunday, day when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. immediately after the date of receipt such funds by the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. ; or

2.  Direct Pay Direct PayCredit enhancement under which Fannie Mae makes principal and interest payments directly to the Bond Trustee (for payment to bondholders) regardless of whether the Borrower has reimbursed Fannie Mae for such payments. Execution:  Prepayments shall be remitted to Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! on the same day as the Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! Advance to the Bond Trustee Bond TrusteeTrustee for a Credit Enhancement Instrument. funding the corresponding bond redemption associated with the prepayment.