Secondary Risk Mortgage Loans

For Secondary Risk Mortgage LoansSecondary Risk Mortgage LoansMortgage Loan where the Lender bears all losses until the Lender’s recourse obligations are exhausted. , the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. must specifically indicate this Course of ActionCourse of ActionFor Non-Performing Mortgage Loans, loss mitigation activities per Part V: Servicing and Asset Management, Chapter 7. on its SWAT, which will serve as documentation of the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. ’s agreement to repurchase 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. .  Neither the purchase price nor any losses incurred on a Secondary Risk Mortgage LoanSecondary Risk Mortgage LoanMortgage Loan where the Lender bears all losses until the Lender’s recourse obligations are exhausted. repurchased by the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. pursuant to this Course of ActionCourse of ActionFor Non-Performing Mortgage Loans, loss mitigation activities per Part V: Servicing and Asset Management, Chapter 7. will be included in any loss sharing with Fannie Mae or be credited against the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. ’s recourse obligation but will be solely for the account of the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. .