source:
  type: guide
  id: fnma-svc-f-3-05
  authority: 'Fannie Mae Servicing Guide F-3-05 — Acronyms and Glossary of Defined
    Terms: E'
  description: 'Fannie Mae Servicing Guide F-3-05 — Acronyms and Glossary of Defined
    Terms: E.'
  coverage_tier: operative
obligations:
- id: fnma-svc-f-3-05-full
  canonical_id: fnma-svc-f-3-05-full
  section: 'Fannie Mae Servicing Guide F-3-05 — Acronyms and Glossary of Defined Terms:
    E'
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Servicing Guide F-3-05 — Acronyms and Glossary of Defined
      Terms: E'
    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-3-05, Acronyms and Glossary of Deﬁned Terms: E (10/19/2016)
      early payment default underwriting review A review of the seller’s initial underwriting
      for a mortgage loan that becomes delinquent during the early years of the mortgage
      term. electronic Relating to technology having electrical, digital, magnetic,
      wireless, optical, electromagnetic, or similar capabilities. electronic mortgage
      (eMortgage) Published May 13, 2026 727 A mortgage loan for which the promissory
      note and possibly other documents (such as the security instrument and mortgage
      loan application) are created and stored electronically rather than by using
      traditional paper documentation that has a pen and ink signature. Most (but
      not all) eMortgages typically consist of a paper security instrument and an
      electronic note. The terms “electronic mortgage,” “electronic mortgage loan,”
      “eMortgage,” and “eMortgage loan” used in this Guide have the same meaning.
      electronic note (eNote or transferable record) An electronic record under ESIGN
      and UETA that (1) would be a Promissory Note under the Uniform Commercial Code
      if the Electronic Record were in writing; (2) the issuer of the Electronic Record
      expressly has agreed is a Transferable Record; and (3) for purposes of ESIGN,
      relates to a mortgage loan secured by real property. electronic note Vault (eNote
      Vault) A secure storage solution that meets the requirements of ESIGN and UETA.
      electronic record A contract or other record created, generated, sent, communicated,
      received, or stored by electronic means. electronic signature An electronic
      sound, symbol, or process, attached to or logically associated with a contract
      or other record executed or adopted by a person with the intent to sign the
      record. elimination The process of removing a property from Fannie Mae’s real
      estate owned (REO) inventory system of record. escrow deﬁciency The amount of
      a negative balance in the escrow account, including advances the servicer has
      made on the borrower’s behalf for tax and insurance payments. escrow shortage
      The amount by which the current escrow account balance falls short of the target
      balance at the time of the escrow analysis. excess yield The amount by which
      the net note rate exceeds the sum of its required net yield and any speciﬁed
      minimum servicing fee. For ARM loans, this also may be the amount by which the
      net mortgage margin exceeds its required margin. Published May 13, 2026 728'
  judgment: false
