Section 220

Reporting Collateral Balances in Custodial Accounts

Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must report, on a quarterly basis, the balances of 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 collateral held by Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. in their Custodial Accounts Custodial AccountsAccount established by the Servicer for depositing P&I payments, T&I payments, and escrow, reserve, or other funds received from the Borrower per any Loan Document, including the: Collateral Agreement; Multifamily Loan Agreement; or Security Instrument. using Collateral Submission Report ( Form 4813 ).  Collateral CollateralProperty, Personal Property, or other property securing a Mortgage Loan. balances that must be included in the quarterly reporting include balances for all Custodial Accounts Custodial AccountsAccount established by the Servicer for depositing P&I payments, T&I payments, and escrow, reserve, or other funds received from the Borrower per any Loan Document, including the: Collateral Agreement; Multifamily Loan Agreement; or Security Instrument. whether the collateral is held as cash, securities or letters of credit.

220.01

P&I Custodial Accounts

Except as noted in  Part V, Chapter 2: Reporting and Remitting, Section 220.04: What to Report , balances in P&I Custodial Accounts P&I Custodial AccountsCustodial Account for principal and interest deposits. are excluded from this reporting requirement.

220.02

Letters of Credit as Collateral

Balances for any original Letters of Credit Letters of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit. held by the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must be reported.  Balances for any original Letter of Credit Letter of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit. held by Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! are not required to be reported.

220.03

Report on Fair Value Basis

If the form of collateral is securities or Letters of Credit Letters of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit. , Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must report the balances on a fair value basis (the price that would be received to sell an asset in a transaction between market participants).

220.04

What to Report

Collateral CollateralProperty, Personal Property, or other property securing a Mortgage Loan. that must be reported using the Collateral Submission Report ( Form 4813 ) includes:

  • Short Term
    • any Replacement Reserves Replacement ReservesCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. or repair escrows;
    • insurance proceeds held pending repair or damage to the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ; or
    • condemnation proceeds received in a condemnation action related to the Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .
  • Long Term
    • any operating deficit or debt service reserve; or
    • NCF NCFAt underwriting or for any specified period, the amount calculated per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part III. sweeps – to the extent NCF NCFAt underwriting or for any specified period, the amount calculated per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part III. exceeds monthly P&I P&IPrincipal and interest remitted to Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! in the ordinary course.
  • Balances in any T&I Custodial Account T&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. .
  • Other
    • any other escrow, collateral or achievement funds governed by an agreement with the Borrower BorrowerPerson who is the obligor per the Note. ;
    • any holdback of 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 proceeds; or
    • any tenant security deposits held by the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. .
220.05

When to Report

The Collateral Submission Report ( Form 4813 ) must be submitted to Servicer’s Servicer’sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. Fannie Mae Representative Fannie Mae RepresentativeFannie Mae personnel who assist you with various business matters (e.g., Fannie Mae Deal Team, pricing, delivery, servicing, asset management, etc.). within thirty (30) days after the end of each calendar quarter.