Late Charges and Default Interest

1. Late Charges

Unless otherwise provided in the Lender ContractLender ContractProgram Documents per the Multifamily Selling and Servicing Agreement. , all late charges are wholly retained by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. .  Any decision to waive the collection of late charges payable to the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. rests with the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. .

2. Default Interest

Unless the Lender’s ContractLender’s ContractProgram Documents per the Multifamily Selling and Servicing Agreement. specifies otherwise, so long as the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is making Delinquency AdvancesDelinquency AdvancesFor Primary Risk Mortgage Loans and Secondary Risk Mortgage Loans, an amount advanced by a primary servicer in respect of regularly scheduled monthly interest or principal due on 1 or more Mortgage Loans, to the extent required under its Lender Contract.  For Secondary Risk Mortgage Loans only, in…, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is entitled to retain that portion 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. interest rate charged to the BorrowerBorrowerPerson who is the obligor per the Note. that is attributable to the default and intended to be added to the stated 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. interest rate.  If the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is not making Delinquency AdvancesDelinquency AdvancesFor Primary Risk Mortgage Loans and Secondary Risk Mortgage Loans, an amount advanced by a primary servicer in respect of regularly scheduled monthly interest or principal due on 1 or more Mortgage Loans, to the extent required under its Lender Contract.  For Secondary Risk Mortgage Loans only, in…, no amount of the default interest component may be retained by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. .  Without regard to whether the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is making Delinquency AdvancesDelinquency AdvancesFor Primary Risk Mortgage Loans and Secondary Risk Mortgage Loans, an amount advanced by a primary servicer in respect of regularly scheduled monthly interest or principal due on 1 or more Mortgage Loans, to the extent required under its Lender Contract.  For Secondary Risk Mortgage Loans only, in…, Fannie Mae is always entitled to the interest that accrues at the stated 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. interest rate.