source:
  type: guide
  id: fnma-sel-c1-3-01
  authority: Fannie Mae Selling Guide C1-3-01 — General Information on Remittance
    Types
  description: Fannie Mae Selling Guide C1-3-01 — General Information on Remittance
    Types.
  coverage_tier: operative
obligations:
- id: fnma-sel-c1-3-01-full
  canonical_id: fnma-sel-c1-3-01-full
  section: Fannie Mae Selling Guide C1-3-01 — General Information on Remittance Types
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C1-3-01 — General Information on Remittance
      Types
    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: 'C1-3-01, General Information on Remittance Types (08/26/2014)
      Introduction This topic provides an overview of borrower payment remittance
      types, including: Overview Actual/Actual Scheduled/Scheduled Scheduled/Actual
      Overview When taking down a commitment to sell whole loans to Fannie Mae, lenders
      must select a remittance type that identiﬁes both the amount and timing for
      sending the borrowers’ mortgage payments to Fannie Mae. Not all remittance types
      are available for all product types. For MBS mortgages, the only remittance
      type available is Scheduled/Scheduled. After Fannie Mae purchases a mortgage,
      it generally will not change the remittance type the lender has selected. Refer
      to the applicable section of the Servicing Guide for more information about
      remittance types. Published May 6, 2026 943 Actual/Actual The Actual/Actual
      (A/A) remittance type is available for whole loans. It is required for HUD-guaranteed
      and Rural Development-guaranteed mortgages. Lenders must notify Fannie Mae immediately
      and remit the actual principal and interest collected from the borrower, net
      of servicing fees, to Fannie Mae. Scheduled/Scheduled The Scheduled/Scheduled
      (S/S) remittance type is available on a negotiated basis for whole loans, including
      ARMs, and fully amortizing ﬁxed-rate conventional monthly payment ﬁrst mortgages.
      It is required for MBS mortgages. Lenders remit scheduled interest (net of servicing
      fees) and scheduled principal due, whether or not payment is collected from
      the borrower. Scheduled/Actual The Scheduled/Actual (S/A) remittance type is
      available for whole loans. Lenders remit scheduled interest (net of servicing
      fees) regardless of actual collections from the borrower and actual principal
      collected the month following receipt of funds. Recent Related Announcements
      There are no recently issued Announcements related to this topic. Subpart C2,
      Whole Loan Transactions Introduction This subpart includes Fannie Mae’s policies,
      parameters, and other information regarding the sale and delivery of whole loans
      for cash. Whole loan products, commitment types and process, servicing fees,
      remittance types, loan payments and purchase adjustments are covered in the
      ﬁrst chapter; requirements for good delivery, extensions and pair-oﬀs, required
      data and documentation, funding and post-purchase adjustments in the second
      chapter. Chapter C2-1, Mandatory and Best Eﬀorts Commitments to Sell Whole Loans
      Introduction As noted in this chapter, when a lender enters into a mandatory
      commitment to sell whole loans to Fannie Mae, the lender agrees to deliver a
      speciﬁed dollar amount of loans, within certain tolerances, to Fannie Mae by
      a speciﬁed future date. Fannie Mae agrees to purchase those loans at an agreed-upon
      price. With a best eﬀorts commitment, the lender agrees to deliver a speciﬁc
      loan to Fannie Mae by a speciﬁed date if that loan closes. Published May 6,
      2026 944 The ﬁrst section in this chapter provides the details associated with
      obtaining and fulﬁlling mandatory commitments to sell whole loans; the second
      section addresses best eﬀorts commitments; and the third section describes the
      use of Servicing Marketplace in selling whole loans to Fannie Mae. Section C2-1.1,
      Mandatory Commitments to Sell Whole Loans'
  judgment: false
