203.03
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The ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). must use the eServicing System to report its monthly 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. activity to Fannie Mae following the end of each Reporting Period, commencing with the month following the:
- date Fannie Mae acquired the Cash Mortgage LoanCash Mortgage LoanMortgage Loan purchased by Fannie Mae in exchange for cash. or PFP Mortgage LoanPFP Mortgage LoanMortgage Loan originally purchased as a Cash Mortgage Loan or held in Fannie Mae’s portfolio, but subsequently securitized as an MBS.; or
- Issue DateIssue DateFirst day of the month of issuance of a Security. for Securitized Mortgage LoansSecuritized Mortgage LoansMortgage Loan backing an MBS, PFP MBS, or REMIC. (other than PFP MBSPFP MBSMBS backed by a PFP Mortgage Loan.).
The following are the cutoff dates for activity reporting on Mortgage LoansMortgage LoansMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents or a mortgage debt obligation with a Fannie Mae credit enhancement.:
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Monthly Activity Cutoff Date |
Monthly Activity Report Due Date |
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Servicer may establish as its cutoff date any day from the 25th of the month to the last day of the month. |
Not later than the second Business DayBusiness DayAny day other than a Saturday, Sunday, day on which Fannie Mae is closed, day on which the Federal Reserve Bank of New York is closed, or for any MBS and any required withdrawal for remittance thereunder, a day on which the Federal Reserve Bank is closed in the district where any… of the month following the cutoff date for the Reporting Period. |
On the last Business DayBusiness DayAny day other than a Saturday, Sunday, day on which Fannie Mae is closed, day on which the Federal Reserve Bank of New York is closed, or for any MBS and any required withdrawal for remittance thereunder, a day on which the Federal Reserve Bank is closed in the district where any… before the designated Remittance DateRemittance DateDate the Servicer is required to make its Monthly Remittance to Fannie Mae for the Mortgage Loan., the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). must electronically report the remittance amount using the Cash Remittance SystemCash Remittance SystemMultifamily web application allowing a Lender to enter the amounts to be drafted from its bank accounts via ACH for monthly remittances due to Fannie Mae, or any such successor system. that is to be drafted by Fannie Mae on the Remittance DateRemittance DateDate the Servicer is required to make its Monthly Remittance to Fannie Mae for the Mortgage Loan.. The ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). may enter drafting information into the Cash Remittance SystemCash Remittance SystemMultifamily web application allowing a Lender to enter the amounts to be drafted from its bank accounts via ACH for monthly remittances due to Fannie Mae, or any such successor system. at any time until 4:00 p.m. Eastern Time, which is the designated cutoff time to enable Fannie Mae to draft the remittances on the next Business DayBusiness DayAny day other than a Saturday, Sunday, day on which Fannie Mae is closed, day on which the Federal Reserve Bank of New York is closed, or for any MBS and any required withdrawal for remittance thereunder, a day on which the Federal Reserve Bank is closed in the district where any….
The ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). may change the information for individual drafts at any time prior to the 4:00 p.m. Eastern Time cutoff time (and the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer).’s transmission of the information to Fannie Mae). After the remittance information is electronically transmitted to Fannie Mae, the Cash Remittance SystemCash Remittance SystemMultifamily web application allowing a Lender to enter the amounts to be drafted from its bank accounts via ACH for monthly remittances due to Fannie Mae, or any such successor system. will generate a report for the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). to confirm Fannie Mae's receipt of its drafting instructions. Fannie Mae will then draft the related funds on the following Business DayBusiness DayAny day other than a Saturday, Sunday, day on which Fannie Mae is closed, day on which the Federal Reserve Bank of New York is closed, or for any MBS and any required withdrawal for remittance thereunder, a day on which the Federal Reserve Bank is closed in the district where any… using an automated clearing house. The ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). will be able to print reports of its drafting activity to facilitate recordkeeping and reconciliation of account information.