source:
  type: guide
  id: fnma-svc-f-3-02
  authority: 'Fannie Mae Servicing Guide F-3-02 — Acronyms and Glossary of Defined
    Terms: B'
  description: 'Fannie Mae Servicing Guide F-3-02 — Acronyms and Glossary of Defined
    Terms: B.'
  coverage_tier: operative
obligations:
- id: fnma-svc-f-3-02-full
  canonical_id: fnma-svc-f-3-02-full
  section: 'Fannie Mae Servicing Guide F-3-02 — Acronyms and Glossary of Defined Terms:
    B'
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Servicing Guide F-3-02 — Acronyms and Glossary of Defined
      Terms: B'
    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-3-02, Acronyms and Glossary of Deﬁned Terms: B (10/12/2022)
      bankruptcy cramdown A bankruptcy cramdown is the process by which a bankruptcy
      court modiﬁes the terms of a loan over the creditor''s objection. A cramdown
      can extend the terms of a loan, reduce the interest rate, and divide a borrower’s
      debts into secured and unsecured portions. If the debt is divided into secured
      and unsecure portions, the secured portion is equal to the value of the property
      as determined by the court and the unsecured portion is equal to the diﬀerence
      between the total debt and the value of the property as, determined by the court.
      The secured portion of the debt should be paid by the borrower in full under
      the plan, and the unsecured portion will be treated as set forth in the plan,
      which may result in less than payment in full of the unsecured portion. beneﬁcial
      easement An easement is that generally enhances the use or value of a property
      by allowing the property owner a limited use of another property, usually a
      contiguous property. bifurcated mortgage loan A mortgage loan or property for
      which the current servicer is not the responsible party for the selling representations
      and warranties and/or for the prior servicing responsibilities or liabilities.
      Published May 13, 2026 722 Borrower Response Package (BRP) All of the required
      documentation that the borrower is required to provide in response to a foreclosure
      prevention solicitation. Borrower Solicitation Package A standardized foreclosure
      prevention solicitation package that provides the borrower with information
      on all workout options and the required documentation that must be submitted
      to be evaluated for a workout option. BPO broker price opinion bps basis points
      burdensome easement An easement that may be detrimental to the use or value
      of the security property. business day A day other than (1) a Saturday or Sunday,
      (2) a day on which the Federal Reserve Bank of New York (or other agent acting
      as Fannie Mae’s ﬁscal agent) is authorized or obligated by law or executive
      order to remain closed, or (3) a day on which the main oﬃces of Fannie Mae in
      the District of Columbia are scheduled to be closed. In this Guide, the word
      “day” without the modiﬁer “business” refers to a calendar day. buydown account
      An account in which funds are held so that they can be applied as part of the
      monthly payment as each payment comes due during the period that an interest
      rate buydown plan is in eﬀect.'
  judgment: false
