source:
  type: guide
  id: fnma-svc-f-3-19
  authority: 'Fannie Mae Servicing Guide F-3-19 — Acronyms and Glossary of Defined
    Terms: S'
  description: 'Fannie Mae Servicing Guide F-3-19 — Acronyms and Glossary of Defined
    Terms: S.'
  coverage_tier: operative
obligations:
- id: fnma-svc-f-3-19-full
  canonical_id: fnma-svc-f-3-19-full
  section: 'Fannie Mae Servicing Guide F-3-19 — Acronyms and Glossary of Defined Terms:
    S'
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Servicing Guide F-3-19 — Acronyms and Glossary of Defined
      Terms: S'
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
    snapshot_id: cf63a82bbb4adfba
    fetched_at: '2026-05-22T23:53:19Z'
    content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
    paragraph_quote: 'F-3-19, Acronyms and Glossary of Deﬁned Terms: S (12/20/2023)
      sale date For post-delivery servicing transfers, the date on which the ownership
      of the servicing rights and the legal liability for the servicing of Fannie
      Mae mortgage loans transfer from one servicer to another. scheduled UPB The
      dollar amount of the current UPB of the mortgage loan amortized through the
      month following the current reporting period, without consideration of Fannie
      Mae''s acquired percentage (unfactored) and excluding any principal forbearance
      amount (deferred principal). scheduled/actual remittance type A method of sending
      monthly payments to Fannie Mae requiring servicers to remit the scheduled interest
      due (whether or not it is collected from borrowers) and the actual principal
      payments that it collects from borrowers. scheduled/scheduled remittance type
      A method of sending monthly payments to Fannie Mae requiring servicers to remit
      the scheduled interest due and the scheduled principal due (whether or not payments
      are collected from borrowers). SCRA Servicemembers Civil Relief Act Published
      May 13, 2026 747 security An ownership interest in a pool of mortgage loans,
      which is evidenced by a book-entry account within the Federal Reserve’s book-entry
      system. security balance The balance for an MBS mortgage loan (or a participation
      interest in an MBS mortgage loan) that is determined by reducing Fannie Mae’s
      share of the issue date principal balance of the mortgage loan by its share
      of any principal distribution amounts included in subsequent monthly remittances;
      the balance for an MBS pool that represents the aggregate security balance of
      all the mortgage loans (or participation interests) in the pool as of any date,
      which is equal to the aggregate issue date principal balances of the mortgage
      loans (or participation interests) less any subsequent principal distribution
      amounts. seller/servicer The Servicing Guide uses the term “seller/servicer”
      to refer to a seller and/or servicer that may be any or all of the parties involved
      in the origination, sale, delivery, and/or servicing of any type of Fannie Mae
      mortgage loan. servicer A Fannie Mae approved servicer that is contractually
      obligated to service one or more mortgage loans for Fannie Mae. Also refers
      to a subservicer if there is a subservicing arrangement. servicing alternative
      remedy Remedies other than repurchase of the identiﬁed mortgage loan including,
      after foreclosure, the acquired property that compensates Fannie Mae for damages,
      expenses, and losses resulting from the identiﬁed servicing defect. The costs
      associated with calculating any servicing alternative could include, but are
      not limited to servicing compensation The income that the servicer receives
      for the collection of payments and management of operational procedures related
      to a mortgage loan. It includes a base servicing fee, plus late charges, fees
      charged for certain servicing activities, yield diﬀerential adjustments or excess
      yield, and, sometimes, prepayment premiums. servicing contract Any of the agreements
      between the servicer and Fannie Mae relating to the servicing of MBS mortgage
      loans. servicing correction An action taken by the seller/servicer that demonstrates
      that the identiﬁed servicing defect either (1) did not, in fact, exist, or (2)
      has been corrected in the time frame speciﬁed by Fannie Mae, such that the servicing
      defect is no longer considered by Fannie Mae to be a servicing defect. servicing
      defect A loan-level deﬁciency based on a servicing violation resulting from
      a breach of a term contained in the Lender Contract in eﬀect at the time of
      the servicing violation. Published May 13, 2026 748 servicing remedy An action
      to resolve a servicing defect elected by Fannie Mae per the Lender Contract
      which may be either a servicing alternative remedy or a repurchase. servicing
      repurchase defect A servicing defect attributable to a servicing violation for
      which a demand for a repurchase servicing remedy could be issued without ﬁrst
      issuing a notice of servicing defect or a demand for a servicing alternative
      remedy. Servicing repurchase defects shall be limited to servicing defects that
      servicing spread The ﬁxed percentage amount for each mortgage loan or participation
      interest in a weighted-average ARM MBS pool that consists of the guaranty fee
      and the servicing fee. It cannot be less than the sum of the minimum allowable
      servicing fee and the guaranty fee applicable to the pool, nor greater than
      the sum of the maximum allowable servicing fee and the guaranty fee. servicing
      violation A breach of any servicer requirement or obligation contained in the
      Lender Contract related to servicing functions including, but not limited to
      SF CPM Fannie Mae''s Single-Family Credit Portfolio Management SFC special feature
      code SFHA Special Flood Hazard Area short sale A procedure wherein Fannie Mae
      agrees to the borrower’s selling of their property for an amount less than that
      which is owed to Fannie Mae in order to avoid a foreclosure. SIFMA Securities
      Industry and Financial Markets Association single pool An MBS pool that consists
      of mortgage loans or participation interests delivered by a single seller. single-family
      mortgage loan A mortgage loan secured by a property that contains one to four
      residential dwelling units. SOFR Published May 13, 2026 749 Secured Overnight
      Financing Rate special remittance A remittance, which generally is of a nonrecurring
      nature for an individual mortgage loan, that relates to a mortgage loan that
      has been liquidated through a short sale or foreclosure sale or the acceptance
      of a Mortgage Release (deed-in-lieu of foreclosure). It also may relate to a
      mortgage loan that has been paid in full, a mortgage loan for which Fannie Mae
      has advanced funds to protect its security, or a mortgage loan still in Fannie
      Mae’s portfolio that requires a purchase adjustment. special requirement A negotiated
      agreement for the delivery of certain special mortgage loan products or other
      mortgage loans that were originated with terms that are at variance with standard
      Fannie Mae pricing and operational requirements. special servicing option A
      guaranty fee option for an MBS pool under which Fannie Mae assumes the entire
      risk of loss from a borrower default; a servicing option for RD-guaranteed mortgages
      under which Fannie Mae will bear all losses not recovered from the RD. (See
      recourse for an equivalent term for a whole loan delivery.) standard remittance
      cycle A payment cycle used for scheduled/scheduled remittance types for MBS
      pools that requires the scheduled and unscheduled payments to be remitted to
      Fannie Mae on the 18th calendar day of each month (or on the preceding business
      day if the 18th is not a business day). step-rate mortgage loan A mortgage loan
      where the initial modiﬁed interest rate set at the time of the mortgage loan
      modiﬁcation is a below market interest rate that is ﬁxed for a speciﬁed period
      of time, then increases until it reaches its determined market interest rate.
      Once the market interest rate is achieved it remains ﬁxed for the remaining
      term of the mortgage loan. Stop Delinquency Advance process The process under
      which Fannie Mae will suspend drafting scheduled P&I advances from the servicer’s
      custodial account when a special servicing option portfolio or MBS mortgage
      loan with a scheduled/scheduled remittance type becomes four consecutive months
      delinquent. subservicer A Fannie Mae approved servicer that is contractually
      obligated to a master servicer to perform substantially all of the ongoing servicing
      activities for one or more mortgage loans for the master servicer. subservicing
      arrangement An arrangement wherein the master servicer of one or more Fannie
      Mae mortgage loans hires a subservicer to subservice substantially all of its
      servicing functions. subservicing transfer A transfer of the physical servicing
      of one or more Fannie Mae mortgage loans from a master servicer to a Published
      May 13, 2026 750 subservicer, from a subservicer to another subservicer, or
      from a subservicer back to the master servicer for substantially all of the
      Fannie Mae required servicing functions. sum of the digits interest calculation
      See rule of 78s. supervised lender A ﬁnancial institution that is a member of
      the Federal Reserve System, or an institution whose accounts are insured by
      the FDIC or the NCUA.'
  judgment: false
