Remittance Transaction Codes

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. uses remittance codes linked to the:

• Servicer'sServicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. unique 9-digit ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. number; and
• specific Drafting AccountDrafting AccountCustodial Account established by the Lender for the benefit of Fannie Mae and for which Fannie Mae has authority to transfer funds. identified for the applicable product and execution.

Only 1 Drafting AccountDrafting AccountCustodial Account established by the Lender for the benefit of Fannie Mae and for which Fannie Mae has authority to transfer funds. per remittance code is permitted, either the:

• P&I Custodial AccountP&I Custodial AccountCustodial Account for principal and interest deposits. for 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. category per Part V, Chapter 3: Custodial Accounts, Section 303.01: Accounts and Deposits; or
• consolidated Drafting AccountDrafting AccountCustodial Account established by the Lender for the benefit of Fannie Mae and for which Fannie Mae has authority to transfer funds. .

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must ensure the:

• individual account drafting instructions, including assigned remittance codes, are coordinated with the Servicer'sServicer'sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. internal fund processing; and
• transmissions to Fannie Mae include all necessary detail to ensure timely and accurate processing.