Fannie Mae Servicing Guide C-2.1-01 — Responsibilities for ARM Loan Servicing

fnma-svc-c-2-1-01

Fannie Mae Servicing Guide C-2.1-01 — Responsibilities for ARM Loan Servicing.

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      authority: Fannie Mae Servicing Guide C-2.1-01 — Responsibilities for ARM Loan Servicing
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      paragraph_quote: C-2.1-01, Responsibilities for ARM Loan Servicing (11/12/2014) The following table provides a list of the servicer’s responsibilities related to servicing ARM loans. ✓ The servicer must... Enforce each ARM loan according to the terms speciﬁcally described in its mortgage loan instrument. These may be modiﬁed or supplemented by any additional terms speciﬁed in a negotiated contract issued in connection with Fannie Mae’s purchase or securitization of the mortgage loan. Use its own funds to satisfy any shortage resulting from untimely interest rate or payment adjustments. Reimburse Fannie Mae if the servicer makes an error that causes the amount of negative amortization to exceed the maximum allowed and Fannie Mae is adversely aﬀected by this breach of the mortgage loan terms. Recent Related Announcements There are no recently issued Announcements related to this topic.

Verbatim regulatory text (1)

Verbatim provisions from Fannie Mae Servicing Guide C-2.1-01 — Responsibilities for ARM Loan Servicing — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Fannie Mae Servicing Guide C-2.1-01 — Responsibilities for ARM Loan Servicing

C-2.1-01, Responsibilities for ARM Loan Servicing (11/12/2014) The following table provides a list of the servicer’s responsibilities related to servicing ARM loans. ✓ The servicer must... Enforce each ARM loan according to the terms speciﬁcally described in its mortgage loan instrument. These may be modiﬁed or supplemented by any additional terms speciﬁed in a negotiated contract issued in connection with Fannie Mae’s purchase or securitization of the mortgage loan. Use its own funds to satisfy any shortage resulting from untimely interest rate or payment adjustments. Reimburse Fannie Mae if the servicer makes an error that causes the amount of negative amortization to exceed the maximum allowed and Fannie Mae is adversely aﬀected by this breach of the mortgage loan terms. Recent Related Announcements There are no recently issued Announcements related to this topic.

Source: Fannie Mae Servicing Guide C-2.1-01 — Responsibilities for ARM Loan Servicing · source URL · snapshot cf63a82bbb4adfba