View 5c: Current Page/Current Detail (Part Three)

Remittance Type [ID 381] (required)

Select the contractual accounting method used to calculate the funds received by the servicer from the borrower that are due to the investor All values are valid for Cash. The value of 'Scheduled Interest Scheduled Principal' is the only valid value for MBS. Options include:

  • Actual Interest Actual Principal

  • Scheduled Interest Actual Principal

  • Scheduled Interest Scheduled Principal

Investor Ownership Percent [ID 378] (required)

Enter the percentage amount of the loan owned by the investor. Specify the contractual percent of interest that Fannie Mae will be purchasing for a cash delivery or an MBS pool of participation interests. If no contractual ownership arrangement exists, this value should equal 100.

Home Improvement Product (HIP) Code [ID 450] (conditionally required)

Select the Fannie Mae-specific home improvement product. This is the existing HIP Product Code and should be delivered under the terms of your negotiated contract. Options include:

  • Actual/Actual Bi-weekly

  • Construction To Permanent

  • Daily Simple Interest Cash Conventional

  • Daily Simple Interest MBS

  • Government Title I

Refi Program ID [ID 451] (conditionally required for refinance)

Select the refinance program associated with the loan. Options include:

  • Disaster Response

  • Desktop Underwriter Refi-Plus

  • High LTV Refi: Select High LTV Refi for mortgage loans with Note Dates on or after 10/1/2017, originated under the High Loan-to-Value Refinance option, implemented at the direction of FHFA, and announced in Lender Letter 2017-05.

  • Refi-Plus

  • Texas Equity: Select Texas Equity for Texas 50(a)(6) mortgage loans. If the loan is both Texas 50(a)(6) and either Desktop Underwrier Refi-Plus or Refi-Plus, enter DURefiPlus or RefiPlus as the RefinanceProgramIdentifier and ensure Special Feature Code 304 is provided to identify the loan as Texas 50(a)(6).

Convertible Status Type [ID 354] (conditionally required if loan has a convertible characteristic)

Select whether the mortgagor has exercised the option to convert the ARM loan to a fixed rate loan. Options include:

  • Active

  • Exercised

  • Expired

Guarantee Fees (conditionally required for MBS loans)

  • Guaranty Fee Per Contract [ID 369]

    Enter the guaranty fee rate prior to applying any adjustments, such as buyup/buydown. The guaranty fee is a portion of the interest on the loan that is paid to a party to ensure the timely payment of principal and interest to the holders of securities backed by the loan. The Base Guaranty Fee does not include any adjustment to reflect the Alternative Payment Method (APM) remittance cycle or a buyup or buydown of the guaranty fee. Value should be reflected as a percentage, not as basis points.

  • Contractual Guaranty Fee for a Mortgage Backed Security (MBS) Pool Mortgage [ID 374]

    Enter the contractual guaranty fee (after adjusting for the alternate payment method (APM) remittance cycle, if applicable) for a Mortgage Backed Security (MBS) pool mortgage. Value should be reflected as a percentage, not as basis points. Zero is a valid value.

  • Guaranty Fee After Buyup/BuyDown [ID 375]

    Enter guaranty fee rate after applying all adjustments to the guaranty fee, such as buyup/buydown. The guaranty fee is a portion of the interest on the loan that is paid to a party to guarantee the timely payment of interest and principal to the holders of securities backed by the loan.