210.03

Timing of Confirmation of the Full Prepayment Payoff Amount

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must ensure that the payoff figure quoted to the BorrowerBorrowerPerson who is the obligor per the Note. is correct.  Accordingly, before the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. advises the BorrowerBorrowerPerson who is the obligor per the Note. of the full prepayment payoff amount, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must confirm such amount with Fannie Mae.  The Servicer'sServicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. request for confirmation of the full prepayment payoff amount must be submitted to Fannie Mae at least 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. before the scheduled prepayment date.  At least 5 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 scheduled prepayment date, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must provide the BorrowerBorrowerPerson who is the obligor per the Note. written confirmation of the amount required to pay off 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. in full.