210.02
The Borrower’sBorrower’sPerson who is the obligor per the Note. proposed prepayment date and the timing of its advance notification of its intent to prepay must be consistent with the provisions of the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .
The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must obtain from the BorrowerBorrowerPerson who is the obligor per the Note. the date on which the BorrowerBorrowerPerson who is the obligor per the Note. will prepay 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 BorrowerBorrowerPerson who is the obligor per the Note. must give the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. advance notice of its intent to make a full prepayment as required by the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .
If a Fannie Mae form Multifamily Note evidences 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. , a prepayment may be made only on the last Business DayBusiness 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. before a scheduled 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. payment date. Non-Fannie Mae form NotesNotesInstrument evidencing a Mortgage Loan obligation, including Form 6010 series, any other Fannie Mae-approved note, and all applicable addenda, schedules, and exhibits. may not contain the same requirement. Some NotesNotesInstrument evidencing a Mortgage Loan obligation, including Form 6010 series, any other Fannie Mae-approved note, and all applicable addenda, schedules, and exhibits. may contain lockout provisions that prohibit full prepayment for a specified period of time. The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must not permit a payoff that does not comply with the requirements contained in the Loan DocumentLoan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. .
The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must notify Fannie Mae, in writing or through the Fannie Mae Payoff Calculator, upon receiving notice from the BorrowerBorrowerPerson who is the obligor per the Note. of a planned prepayment. Notice of the planned prepayment must be received by Fannie Mae not later than 10 Business DaysBusiness DaysAny 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. prior to the contemplated payoff date. The Fannie Mae Payoff Calculator may only be used when the Fannie Mae form Multifamily Note evidences 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. .