source:
  type: guide
  id: fnma-svc-f-3-20
  authority: 'Fannie Mae Servicing Guide F-3-20 — Acronyms and Glossary of Defined
    Terms: T'
  description: 'Fannie Mae Servicing Guide F-3-20 — Acronyms and Glossary of Defined
    Terms: T.'
  coverage_tier: operative
obligations:
- id: fnma-svc-f-3-20-full
  canonical_id: fnma-svc-f-3-20-full
  section: 'Fannie Mae Servicing Guide F-3-20 — Acronyms and Glossary of Defined Terms:
    T'
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Servicing Guide F-3-20 — Acronyms and Glossary of Defined
      Terms: T'
    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-3-20, Acronyms and Glossary of Deﬁned Terms: T (11/08/2017)
      T&I taxes and insurance take-out option A post-conversion disposition option
      that requires the seller to redeliver as a portfolio mortgage loan a repurchased
      convertible ARM loan that was in an MBS pool following its conversion to a ﬁxed-rate
      mortgage loan and to continue any recourse or credit enhancement that initially
      applied to the mortgage loan (unless Fannie Mae agrees that it is no longer
      needed). TBA to be announced third-party sale A foreclosure sale at which the
      successful purchaser of the property is someone other than the mortgagee or
      the borrower or their representatives. TILA Truth in Lending Act total or near-total
      loss A loss that is greater than 80% of the coverage amount of the insurance
      policy. transfer date For post-delivery servicing transfers, the date on which
      the physical transfer of the servicing or subservicing responsibilities from
      the transferor servicer or subservicer, as the case may be, to the transferee
      servicer or Published May 13, 2026 751 subservicer occurs. It may not necessarily
      be the same date as the sale date identiﬁed in the servicer transfer agreement.
      transfer of ownership Any means by which the ownership of property changes hands.
      Fannie Mae considers the transfer of all or any part of the property or any
      interest in the property to be a transfer of ownership, including the purchase
      of a property “subject to” the mortgage, the assumption of the mortgage debt
      by the property purchaser, and any exchange of possession of the property under
      a land sales contract, grant deed, or any other land trust device. In cases
      in which an revocable trust or a limited liability company (LLC) is the owner
      of the property, Fannie Mae also considers any transfer of a beneﬁcial interest
      in the trust or a controlling interest in the LLC to be a transfer of ownership.
      Trial Period Plan A three-month period prior to the modiﬁcation eﬀective date
      during which the borrower makes payments approximating an amount equal to the
      modiﬁed payment as a condition of the modiﬁcation. If the borrower is current
      or less than 31 days delinquent, the trial period must be four months in length.
      two- to four-unit property A property that consists of a structure that provides
      living space (dwelling units) for two to four families, although ownership of
      the structure is evidenced by a single deed.'
  judgment: false
