Payment collection relates to the receipt and application of the monthly payment. The information that must be reported includes:
- actual last paid installment ("LPILPIDue date of the last payment received. ") date;
- actual UPBUPBUnpaid Principal Balance ; and
- remittance amount (distributed between P&IP&IPrincipal and interest ).
Under the Same Month PoolingSame Month PoolingDelivery option permitting Mortgage Loans to be pooled and secure an MBS issued in the same month as the Mortgage Loan Origination Date. option, the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). must not report a principal distribution amount for the first reporting cycle following the Issue DateIssue DateFirst day of the month a Security is issued. of the Security Pool because no payment will have come due from the BorrowerBorrowerPerson who is the obligor per the Note. . For the first reporting cycle, the actual UPBUPBUnpaid Principal Balance of 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. will equal the Issue DateIssue DateFirst day of the month a Security is issued. principal balance, as no principal payment will be subtracted from the Security BalanceSecurity BalanceFor each MBS Pool, the Issue Date Principal Balance less any MBS principal distribution amounts included in previous MBS monthly remittances. or passed through to the InvestorInvestorMBS Investor for an MBS Mortgage Loan, or Fannie Mae for a Cash Mortgage Loan. .