Fannie Mae Approval Required for Partial Prepayments

Unless the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. expressly permit partial prepayments, Fannie Mae's approval is required before any partial prepayment is made.  If the Servicer’sServicer’sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. Fannie Mae RepresentativeFannie Mae RepresentativeFannie Mae personnel who assist you with various business matters (e.g., Fannie Mae Deal Team, pricing, delivery, servicing, asset management, etc.). agrees to allow or requires a partial prepayment to be made, it will advise the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. in writing of any specific conditions that will apply to such partial prepayment.  Such specific conditions may include:

• when and how the prepayment must occur;
• whether a Prepayment PremiumPrepayment PremiumFor a Mortgage Loan prepayment, amount the Borrower must pay in addition to the prepaid principal and accrued interest per the Loan Documents. must be paid; and
• whether 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. repayment terms will be altered and, if so, how the Mortgage Loan DocumentsMortgage Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. would have to be modified to reflect such alterations, etc.

Any decision to modify 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. repayment terms in connection with the partial prepayment will be made by Fannie Mae, in its sole and absolute discretion.