source:
  type: guide
  id: fnma-svc-f-3-03
  authority: 'Fannie Mae Servicing Guide F-3-03 — Acronyms and Glossary of Defined
    Terms: C'
  description: 'Fannie Mae Servicing Guide F-3-03 — Acronyms and Glossary of Defined
    Terms: C.'
  coverage_tier: operative
obligations:
- id: fnma-svc-f-3-03-full
  canonical_id: fnma-svc-f-3-03-full
  section: 'Fannie Mae Servicing Guide F-3-03 — Acronyms and Glossary of Defined Terms:
    C'
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Servicing Guide F-3-03 — Acronyms and Glossary of Defined
      Terms: C'
    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-3-03, Acronyms and Glossary of Deﬁned Terms: C (02/12/2025)
      calendar day Any day in a month, including Saturdays, Sundays, and Holidays.
      This term is only used within the context of the Investor Reporting process.
      (Also see "business day" in this Glossary) call abandonment rate The percentage
      of calls that are not intercepted by a live operator before being disconnected
      (pure data with no exclusions for servicer thresholds, service levels, or call
      blocking). Published May 13, 2026 723 call blockage rate The percentage of calls
      that did not connect internally with the servicer due to circuit unavailability
      or programmatic blockage of calls by the automated call distribution system.
      call option A provision in the mortgage that gives Fannie Mae the right to call
      the mortgage due and payable at the end of a speciﬁed period for whatever reason.
      cancellation of MI Notiﬁcation by the mortgage insurer that it has cancelled
      coverage in connection with a speciﬁed mortgage loan as of a speciﬁed date due
      to a breach of one or more provisions of the applicable mortgage guaranty insurance
      policy. capitalization The addition of certain amounts due under the mortgage
      loan—such as T&I payments made by the servicer or delinquent interest installments—to
      the UPB of the mortgage loan, either because the borrower was unable to pay
      them or the servicer paid them on the borrower’s behalf. Cash Remittance System
      (CRS) The system used to process P&I remittances for actual/actual remittance
      type mortgage loans, as well as special remittances for all mortgage loan types.
      cash reserves Liquid assets such as cash, savings, money market funds, or marketable
      stocks or bonds (excluding retirement accounts). claim denial (MI) Notiﬁcation
      by the mortgage insurer that a claim will not be paid in connection with a speciﬁed
      mortgage loan due to a breach of one or more provisions of the applicable mortgage
      guaranty insurance policy (for example, its obligation to produce documents).
      clearing account A bank account that is used for the temporary deposit of funds
      until they can be appropriately identiﬁed and transferred into a permanent account.
      co-borrower For Fannie Mae’s purposes, this term is used to describe any borrower
      other than the ﬁrst borrower whose name appears on the mortgage note, even when
      that person owns the property jointly with the ﬁrst borrower (and is jointly
      and severally liable for the note). co-op unit in a cooperative project Published
      May 13, 2026 724 Community Land Trust Ground Lease Rider A Community Land Trust
      Ground Lease Rider, on either Fannie Mae Form 2100 or the Freddie Mac equivalent
      form, signed by the borrower and lessor, and recorded in the land records, is
      required for leasehold mortgages secured by properties held under a community
      land trust ground lease meeting Fannie Mae standards. compensatory fee A fee
      Fannie Mae charges as compensation for damages that may be incurred as the result
      of a seller/servicer’s failure to comply with a speciﬁc policy or procedure
      or to emphasize the importance Fannie Mae places on a particular aspect of the
      seller/servicer’s performance. concurrent mortgage loan sale An exchange of
      mortgage loans of like terms and quality between Fannie Mae and another seller.
      concurrent sales participation pool mortgage loan A mortgage loan that is part
      of a participation pool that was created as a result of a concurrent mortgage
      loan sale. condemnation Depending on context, may refer to a determination that
      a building is not ﬁt for use or is dangerous and must be destroyed, or the taking
      of private property for a public purpose through an exercise of the right of
      eminent domain. condo unit in a condominium project conforming mortgage loan
      A conventional mortgage loan that had an origination-date principal balance
      not exceeding the current Fannie Mae loan limit. (“Current” refers to when Fannie
      Mae purchased or securitized the mortgage.) If a mortgage was originated prior
      to the current year, the loan limit that was in eﬀect on the origination date
      is disregarded. contractual payment The payment required of the borrower in
      accordance with (or under) the promissory note and security instrument. The
      borrower''s monthly contractual payment includes any required monthly escrow
      payment. cooperative (co-op) project A residential or mixed-use building wherein
      a corporation or trust holds title to the property and sells shares of stock
      representing the value of a single apartment unit to individuals who, in turn,
      receive a proprietary lease as evidence of title. CPI Consumer Price Index Published
      May 13, 2026 725 CPM Condo Project Manager cramdown See bankruptcy cramdown.
      credit score When used by Fannie Mae, the classic FICO score developed by Fair
      Isaac Corporation. CU Collateral Underwriter CUSIP Committee on Uniform Security
      Identiﬁcation Procedures custodial account A bank account that a seller/servicer
      must establish to hold the funds of others—the borrower and Fannie Mae—as opposed
      to any account established to hold the seller/servicer’s corporate funds. custody
      documents The original mortgage note, and, in some cases, the original MI or
      loan guaranty certiﬁcate, and, if the mortgage has been modiﬁed, the modiﬁcation
      agreement.'
  judgment: false
