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  • Interest Rate Conversion Agreement

    Document describing the terms and conditions when a 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. interest rate may convert from an adjustable rate to a fixed rate.

  • Investor

    MBS InvestorMBS InvestorFor MBS Mortgage Loans, either a Third Party MBS Investor for Lender-Arranged Sales, or the Multifamily Trading Desk. for an MBS Mortgage LoanMBS Mortgage LoanMortgage Loan purchased by Fannie Mae in exchange for an issued MBS backed by the Mortgage Loan., or Fannie Mae for a Cash Mortgage LoanCash Mortgage LoanMortgage Loan purchased by Fannie Mae in exchange for cash..

  • Investor Spread

    Required spread above the IndexIndexBasis for determining an ARM Loan Gross Note Rate or entering a Streamlined Treasury Lock on a fixed rate Mortgage Loan, including any required alternative index deemed necessary by Fannie Mae because the prior Index: is no longer widely accepted; or was replaced as the index for similar… (excluding the Guaranty FeeGuaranty 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. and Servicing FeeServicing FeeFee a Servicer receives for collecting payments, managing operational procedures, and assuming your portion of credit risk for a Mortgage Loan, and which may be expressed as a percentage.) charged by the InvestorInvestorMBS Investor for an MBS Mortgage Loan, or Fannie Mae for a Cash Mortgage Loan. purchasing 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.; or
    • MBS Mortgage LoanMBS Mortgage LoanMortgage Loan purchased by Fannie Mae in exchange for an issued MBS backed by the Mortgage Loan..

  • IRP

    Interest Reduction Payment

  • Issue Date

    First day of the month a SecuritySecurityMBS, PFP MBS, or REMIC. is issued. 

  • Issue Date Principal Balance

    For any Securitized 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 UPBUPBUnpaid Principal Balance of the NoteNoteInstrument evidencing a Mortgage Loan obligation, including  Form 6010 series,  any other Fannie Mae-approved note, and  all applicable addenda, schedules, and exhibits.  after crediting:

    • the principal portion of any scheduled monthly installment due on or before the SecuritySecurityMBS, PFP MBS, or REMIC. Issue DateIssue DateFirst day of the month a Security is issued. , whether or not collected; and
    • any unscheduled principal payment received on or before the SecuritySecurityMBS, PFP MBS, or REMIC. Issue DateIssue DateFirst day of the month a Security is issued. .

  • Issuer

    Entity that:

    • issues BondsBondsTax-exempt or taxable multifamily revenue bonds, or other tax-exempt or taxable bonds, issued to finance 1 or more Credit Enhancement Mortgage Loan Properties. for a Credit Enhancement Mortgage LoanCredit Enhancement Mortgage LoanMortgage Loan financed by a Bond issuance where Fannie Mae provides credit enhancement by a Credit Enhancement Instrument, or an MBS for Bonds.;
    • packages mortgages for sale as a SecuritySecurityMBS, PFP MBS, or REMIC. for an MBSMBSMortgage-Backed Security; or
    • issues a Letter of CreditLetter of CreditLetter of Credit approved by Fannie Mae per Part I, Chapter 2: Mortgage Loan, Section 204: Letters of Credit..