Mortgage Loan refinancing a Portfolio Mortgage Loan using streamlined underwriting per Part III, Chapter 18: Choice Refinance Loans.…
Synonyms: Choice Refinance Loans
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Glossary > C
Lender account at an Eligible Depository used either for receiving funds for various loans and for the benefit of multiple investors, and from which segregated funds are transferred to specific Custodial Accounts held solely for the benefit of Fannie Mae,…
Synonyms: Clearing Accounts
Synonyms: Clearing Accounts
Glossary > I
Document describing the terms and conditions when a Mortgage Loan interest rate may convert from an adjustable rate to a fixed rate.…
Glossary > S
Optional process permitting a Rate Lock before completing full Mortgage Loan underwriting, per Part IV, Chapter 3: Streamlined Rate Lock…
Synonyms: SRL
Synonyms: SRL
Glossary > C
Agreement granting a security interest in Mortgage Loan collateral not covered by the Security Instrument.…
Synonyms: Collateral Agreements
Synonyms: Collateral Agreements
Glossary > C
Custodial account established by the Servicer for depositing funds received from the Borrower for Collateral Agreements.…
Synonyms: Collateral Agreement Custodial Account
Synonyms: Collateral Agreement Custodial Account
Glossary > C
Contractual agreement between you and Fannie Mae where Fannie Mae agrees to buy a Mortgage Loan at a future date in exchange for an MBS, or at a specific price for a Cash Mortgage Loan, and you agree to Deliver that Mortgage…
Synonyms: Committed, Commitments
Synonyms: Committed, Commitments
Glossary > S
For any Business Day, the Secured Overnight Financing Rate as published by the Federal Reserve Bank of New York, or any successor administrator, on the Federal Reserve…
Synonyms: SOFR
Synonyms: SOFR