Drafting Account Use

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must make the monthly remittance funds available for drafting by ACHACHElectronic Automated Clearing House network for processing U.S. banking transactions. via the Cash Remittance SystemCash Remittance SystemMultifamily system where you set up and maintain banking instructions for Fannie Mae’s drafting of remittances per Part V, Chapter 2: Reporting and Remitting, Section 209: Remittance Procedures. on the 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 the Remittance DateRemittance DateThe 18th day of each month (or the preceding Business Day if the 18th is not a Business Day) on which you must submit your remittance to Fannie Mae for the Mortgage Loan. .