Cash Mortgage Loan – Reporting Remittance Amount

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, a day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. 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 when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, a day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. .

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 when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, a day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. 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.