Reporting Full Prepayment Payoff Amount
1. Full Prepayment Payoff Amount Received on First Business Day of Month
Notwithstanding anything to the contrary above, any full prepayment of a 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. from or on behalf of a BorrowerBorrowerPerson who is the obligor per the Note. that is received by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. on the first 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. of a month will be deemed received in the prior calendar month for purposes of reporting and remitting such full prepayment.
2. Full Prepayment Reported through the eServicing System Due By 2nd Day of Month
The full prepayment must then be reported electronically to Fannie Mae through the eServicing System. The report of the full payment must be transmitted in time to reach Fannie Mae by the 2nd calendar day of the month following the month of prepayment.