source:
  type: guide
  id: fnma-svc-f-3-18
  authority: 'Fannie Mae Servicing Guide F-3-18 — Acronyms and Glossary of Defined
    Terms: R'
  description: 'Fannie Mae Servicing Guide F-3-18 — Acronyms and Glossary of Defined
    Terms: R.'
  coverage_tier: operative
obligations:
- id: fnma-svc-f-3-18-full
  canonical_id: fnma-svc-f-3-18-full
  section: 'Fannie Mae Servicing Guide F-3-18 — Acronyms and Glossary of Defined Terms:
    R'
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Servicing Guide F-3-18 — Acronyms and Glossary of Defined
      Terms: R'
    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-3-18, Acronyms and Glossary of Deﬁned Terms: R (07/09/2025)
      rapid payment method (RPM) remittance cycle A payment cycle used for scheduled/scheduled
      remittance types for MBS pools that has an early remittance date (usually the
      10th of the month, although earlier or later dates can be negotiated) for both
      scheduled and unscheduled payments. RD Rural Development RDC Requirements for
      Document Custodians reclassiﬁcation The movement of a delinquent special servicing
      option MBS mortgage loan that meets speciﬁed criteria from the MBS pool into
      Fannie Mae’s portfolio. Under certain scenarios as described in this Guide,
      delinquent regular servicing option mortgage loans will also be removed from
      the MBS pool into Fannie Mae’s portfolio. recognition agreement An agreement
      on the part of a co-op corporation to recognize speciﬁc rights of sellers who
      ﬁnance share loans in the project (or those of the sellers’ successors and assigns).
      recourse The obligation of the seller to cover losses the buyer incurs as a
      result of a default on the note. Under a portfolio mortgage loan transaction,
      a seller that sells a mortgage loan to Fannie Mae under the “with recourse”
      servicing option assumes the entire risk of borrower default, while a seller
      that sells a mortgage loan under the “without recourse” servicing option transfers
      the risk of borrower default to Fannie Mae. (See regular servicing option and
      special servicing option for equivalent terms for MBS transactions.) redemption
      period The speciﬁed period in which a borrower can reclaim foreclosed property
      by making full payment of the mortgage debt, under a legally enforceable right
      of redemption in some states. regular servicing option A guaranty fee option
      for an MBS pool under which the seller assumes the entire risk of loss from
      a borrower default; a servicing option for RD-guaranteed mortgage loans under
      which the servicer is fully responsible for any losses not recovered from the
      RD. (See recourse for the equivalent term for a portfolio mortgage loan delivery.)
      Published May 13, 2026 744 relative The borrower’s spouse, child, or other dependent
      or any other individual who is related to the borrower by blood, marriage, adoption,
      or legal guardianship. release of liability A written agreement whereby Fannie
      Mae releases a borrower from personal liability under the mortgage loan because
      a second party (the property purchaser or transferee) has been credit qualiﬁed
      and agreed to assume liability of the mortgage loan. remaining term Original
      term less the number of payments that have been applied. REMIC Real Estate Mortgage
      Investment Conduit remittance cycle A schedule for determining when funds must
      be remitted to Fannie Mae each month. Portfolio mortgage loans generally have
      only a single remittance cycle (regardless of the remittance type), but MBS
      mortgage loans have three diﬀerent remittance cycles (standard, RPM, and MBS
      Express). remittance date The date on which the servicer’s remittances are due
      to Fannie Mae. There is no speciﬁc remittance date for actual/actual remittance
      types since the remittance is based on the amount of funds accumulated at any
      time. For scheduled/scheduled remittance types, the usual remittance date for
      the P&I distribution amounts is the 18th of the month (although the servicer
      may choose an earlier remittance date under either the RPM or MBS Express remittance
      cycles). For scheduled/actual remittance types, the remittance date is the 20th
      of the month. remittance type A way of determining the composition of the servicer’s
      required remittance to Fannie Mae. For portfolio mortgage loans, there are three
      types (actual/actual, scheduled/actual, and scheduled/scheduled). remittance
      type code A unique code that is used to identify monies related to individual
      drafts reported through the CRS. There are a diﬀerent series of codes for P&I
      remittances and special remittances. renovation escrow account An account that
      is established at closing for a renovation or energy-related improvement mortgage
      loan. It includes the renovation costs, the contingency reserve, and any escrowed
      monthly payments (if applicable) or monies that the borrower provides from their
      own funds. These funds are then used to pay for completed repair and renovation
      work and, if applicable, to make the monthly payments that come due during the
      renovation period. REO Published May 13, 2026 745 real estate owned REOgram
      An automated notice that a property has been acquired by foreclosure or acceptance
      of a Mortgage Release (deed-in-lieu of foreclosure), which serves as a conﬁrmation
      for potential property on-boarding and dispositions. repayment plan An arrangement
      made to repay delinquent installments or advances. repurchase date The date
      through which interest must be calculated when a seller/servicer is required
      to repurchase a mortgage loan or an acquired property from Fannie Mae; the date
      on which the seller redelivers mortgage loans funded in certain early funding
      transactions to Fannie Mae for portfolio mortgage loan purchase or for securitization
      under an As Soon As Pooled Sale transaction. repurchase price The percentage
      of par that the seller/servicer must apply to the unpaid balance or outstanding
      debt of a mortgage loan or acquired property that it has to repurchase from
      Fannie Mae; the sum of the purchase price and the price diﬀerential for an As
      Soon As Pooled Plus™ settlement. required margin Fannie Mae’s posted commitment
      margin for each ARM plan plus all applicable adjustments. required yield Fannie
      Mae’s commitment yield plus all applicable adjustments. This yield does not
      include a servicing fee. rescission of MI Notiﬁcation by the mortgage insurer
      that it has made the determination to rescind coverage in connection with a
      speciﬁed mortgage loan due to a breach of one or more provisions of the applicable
      mortgage guaranty insurance policy. residential home mortgage A mortgage that
      covers a one- to four-unit dwelling that is used to provide living accommodations.
      RESPA Real Estate Settlement Procedures Act responsible party A seller, servicer,
      or other entity that is responsible for the selling representations and warranties
      and/or for the servicing responsibilities or liabilities on a mortgage loan.
      revocable trust (or living trust) Published May 13, 2026 746 A trust that an
      individual creates during their lifetime that becomes eﬀective during their
      lifetime, but which can be changed or canceled at any time for any reason during
      its creator’s lifetime. RHS Rural Housing Service RIN remote ink-signed notarization
      RPM rapid payment method rule of 78s A method used to calculate an interest
      rebate when an installment loan that had add-on interest is paid oﬀ (or reﬁnanced)
      prior to its maturity date.'
  judgment: false
