source:
  type: guide
  id: fnma-sel-a2-3.3-01
  authority: Fannie Mae Selling Guide A2-3.3-01 — Compensatory Fees
  description: Fannie Mae Selling Guide A2-3.3-01 — Compensatory Fees.
  coverage_tier: operative
obligations:
- id: fnma-sel-a2-3.3-01-full
  canonical_id: fnma-sel-a2-3.3-01-full
  section: Fannie Mae Selling Guide A2-3.3-01 — Compensatory Fees
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide A2-3.3-01 — Compensatory Fees
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'A2-3.3-01, Compensatory Fees (07/30/2013) Introduction This
      topic contains information on the following subjects: Imposition of Compensatory
      Fees Compensatory Fees for the Late Payment of Commitment, Pair-Oﬀ, or Extension
      Fees Compensatory Fees for Failure to Comply with Commitment Provisions Compensatory
      Fees for Failure to Identify Mortgage Loans Subject to Loan-Level Price Adjustments
      Imposition of Compensatory Fees If a lender fails to comply with a speciﬁc requirement
      for origination, delivery, or servicing of loans, or if Fannie Mae determines
      that the lender’s overall performance is unsatisfactory, Fannie Mae may impose
      a fee to compensate Fannie Mae for damages and to emphasize the importance Fannie
      Mae places on a particular aspect of a lender’s performance. The compensatory
      fee may relate to the action the lender took, or failed to Published May 6,
      2026 59 take, for a speciﬁc mortgage, or the impact that the lender’s deﬁciencies
      may have on Fannie Mae. Charging a compensatory fee does not limit Fannie Mae’s
      right to exercise any other remedy. See the Servicing Guide for additional information
      about compensatory fees. Compensatory Fees for the Late Payment of Commitment,
      Pair-Oﬀ, or Extension Fees Fannie Mae may impose a compensatory fee for late
      payment of commitment, pair-oﬀ, or extension fees. Such fee may be charged when
      a draft is returned unpaid by Fannie Mae’s ACH agent, or when Fannie Mae receives
      wire-transferred funds more than ﬁve business days after the date of the commitment
      or request for the pair-oﬀ or extension. The compensatory fee is the greater
      of $50 or a daily interest charge equal to the prime rate plus 3% of the fee
      that is due. The prime rate will be as published in The Wall Street Journal’s
      prime rate index (or an equivalent source) in eﬀect on the date the commitment
      was issued, or the pair-oﬀ or extension took place. Fannie Mae will draft the
      appropriate compensatory fee—along with the past due commitment, pair-oﬀ, or
      extension fee—directly from the lender’s designated bank account. (See C2-1.1-02,
      General Information about Mandatory Commitment Pricing and Fees.) Compensatory
      Fees for Failure to Comply with Commitment Provisions Fannie Mae’s whole loan
      commitment terms are ﬂexible so that lenders can comply with them under normal
      circumstances without diﬃculty. For example, to make good delivery on a mandatory
      commitment, lenders must deliver loans for which the total unpaid principal
      balance falls within speciﬁc tolerance parameters (for details, see C2-2-01,
      General Requirements for Good Delivery of Whole Loans). These ﬂexibilities are
      provided to account for unusual circumstances beyond the lender’s control that
      prevent the lender from honoring its contractual obligations. However, Fannie
      Mae may impose compensatory fees when it has reason to believe that the lender
      had control over the situation or failed to comply with Fannie Mae requirements
      in an eﬀort to take advantage of changing market conditions. Many factors are
      considered before imposing these compensatory fees; therefore, the exact fee
      to be charged depends on the lender’s overall performance, the lender’s explanation
      for its noncompliance, whether the lender has a history of noncompliance, and
      the amount of any previous compensatory fee that Fannie Mae imposed. Compensatory
      Fees for Failure to Identify Mortgage Loans Subject to Loan-Level Price Adjustments
      If a lender consistently fails to identify or incorrectly identiﬁes mortgage
      loans that are subject to loan-level price adjustments, Fannie Mae may impose
      a compensatory fee. Published May 6, 2026 60 Fannie Mae will take the following
      factors into consideration: the lender’s overall performance, the lender’s explanation
      for its noncompliance, previous instances of noncompliance, and the amount of
      any previous compensatory fee that Fannie Mae imposed. Recent Related Announcements
      There are no recently issued Announcements related to this topic. Chapter A2-4,
      Loan Files and Records Introduction This chapter includes information on the
      loan ﬁles and records that lenders must maintain in connection with each mortgage
      loan that is sold to Fannie Mae, as well as the ownership of those records,
      Fannie Mae access to the records, and record retention and storage requirements.
      It also describes Fannie Mae’s requirements for electronic records, signatures,
      and transactions. Section A2-4.1, Establishment, Ownership, and Retention of
      Loan Files and Records'
  judgment: false
