DUS Interim Loss Sharing Request for Reiumbursement Report

DUS Interim Loss Sharing Request

Exhibit VII-3for Reimbursement Report

Use this report in the first month that the Interim Loss Sharing Adjustment becomes effective and each month thereafter whether or not a reimbursement is requested. When using this report, the Lender is no longer required to use the DUS Delinquent Loan Report.

DUS INTERIM LOSS SHARING REQUEST FOR REIMBURSEMENT REPORT

Reporting Month:

Lender Name:

Lender Address:

Lender Number:

Fannie Mae Loan Number:

Property Name:

Property Address:

Borrower Name:

Borrower Address:

Date of Default:

Actual UPB on Date of Default:

Date Interim Loss Sharing Approved:

The Lender should submit the original of this report with a copy of the Borrower's payment history, record of Lender advances, and copies of bills and checks to Multifamily Activities in the property regional office. Attach a copy of this report (without the supporting documentation attached) to the Form 2010 submitted to Fannie Mae for the same reporting month. This form is due on the 7th of the month following the reporting month (e.g. - This report is due on May 7th for activity in the reporting month of April). Refer to Part VII, Section 103 of the DUS Guide for definitions of terms used in this form.

1.Amount the Lender is Required to Advance at 100%

a.5% of Actual UPB on Date of Default

b.Less: Ending Balance of Cumulative Delinquency Advances

from Prior Month's Report

c.Less: Ending Balance of Cumulative Servicing Advances

from Prior Month's Report

d.Less: Ending Balance of Cumulative Delinquency Resolution

Costs from Prior Month's Report

e.Equals: Amount the Lender is Required to Advance at 100%

(If the amount is negative, enter zero)

Fannie Mae DUS GuidePage 1

09/03/96

DUS Interim Loss Sharing Request

Exhibit VII-3for Reimbursement Report

2.Source of Payment

a.Add: NOI

b.Add: Borrower (out-of-pocket -

if this information is available)

c.Equals: Total Borrower Payment

d.Less: Amount retained by Lender for

reserves, taxes, and insurance, if required

by the mortgage documents

e.Equals: Amount to be Applied to P&I

f.Add: P&I Shortfall

g.Equals: Borrower's Total P&I Payment due under the Note

net of servicing fee

3.Calculating Fannie Mae's and the Lender's Portion of the P&I Shortfall:

a.P&I Shortfall (From Line 2f)

b.Less: Amount the Lender is Required to Advance at 100%

(From Line 1e. If the amount on this line is greater than the amount on Line 3a, enter the amount on Line 3a and include the excess amount on Line 6b)

c.Equals: Amount of P&I Subject to Interim Loss Sharing

d.75% of the Amount of P&I Subject to Interim Loss Sharing

The Lender is not required to remit this amount to Fannie Mae. If the lender has previously remitted this amount to Fannie Mae, enter this amount on Line 6k.

e.25% of the Amount of P&I Subject to Interim Loss Sharing

This is the Lender Delinquency Advance under Interim Loss Sharing

4.Application of Payment

The Lender must apply borrower payments, including partial payments, in accordance with the Note and Mortgage. Commencing with the Date of Default, the Lender is not required to advance its own funds for reserves and deposits for insurance or taxes.

a.Add: Interest

(From Section 1, Line B, Form 2010)

b.Add: Principal

(From Section 1, Line B, Form 2010)

c.Equals: Borrower's Total P&I Payment due under the Note

net of servicing fee (Must agree with Line 2g)

d.Add: Reserves

e.Add: Insurance

f.Add: Taxes

(The total of Lines 4d, 4e, and 4f must agree with Line 2d)

g.Equals: Total Borrower Payment and P&I Shortfall

(Must agree with the total of Lines 2c and 2f)

5.Servicing Advances and Delinquency Resolution Costs

Servicing Advances and Delinquency Resolution Costs in Reporting Month (advances and costs paid by the Lender from its own funds). Attach copies of bills and checks for amounts claimed on this report. Advances made in prior months but not previously submitted should be submitted within 60 days after payment.

a.Servicing Advances

Add: Taxes Paid

Add: Insurance Paid

Add: Other Assessments Paid

Add: Costs to Preserve and

Protect the Property

Current Month's Servicing Advances

b.Delinquency Resolution Costs

Add: Attorney Fees

Add: Appraisal Fees

Add: Credit Reports

Add: Recordation Costs

Add: Court Costs

Add: Environmental Assessment

Add: Other (Specify)

Current Month's Delinquency Resolution Costs

c.Commencing with the Date of Default, the Lender is not required to fund deposits to replacement reserves or custodial accounts for assessments, insurance premiums, or taxes but the Lender must pay bills for preservation and protection of the property, assessments, insurance premiums, or taxes when due without penalty.

TaxesPaid Through Amount

InsurancePaid Through Amount

AssessmentsPaid Through Amount Paid Through Amount

6.Reimbursement of Servicing Advances and Delinquency Resolution Costs Due From Fannie Mae

a.Add: Current Month's Servicing Advances (From Line 5a )

b.Less: Excess amount the Lender is Required to Advance

at 100% (From Line 3b. If the amount on this line is greater than the amount on Line 6a, enter the amount on Line 6a and include the excess amount on Line 6g)

c.Equals: Amount of Servicing Advances Subject to Interim

Loss Sharing

d.75% of Amount on Line 6c

This is the amount due from Fannie Mae to the Lender

e.25% of Amount on Line 6c

This is the Current Month's Lender Servicing Advance

f.Add: Current Month's Delinquency Resolution Costs

(From Line 5b)

g.Less: Excess amount the Lender is Required to Advance

at 100% (From Line 6b)

h.Equals: Amount of Delinquency Resolution Costs Subject to

Interim Loss Sharing

i.75% of Amount on Line 6h

This is the amount due from Fannie Mae to the Lender

j.25% of Amount on Line 6h

This is the Current Month's Lender Delinquency Resolution

Costs

k.Add: Amount on Line 3d if

previously remitted to Fannie Mae

l.Add: Amount on Line 6d

m.Add: Amount on Line 6i

n.Equals: Amount to be remitted by Fannie Mae to the Lender

7.Lender's Cumulative Advances

a.Add: Ending Balance of Cumulative Delinquency Advances from

Prior Month's Report

b.Add: Current Month's Lender Delinquency Advance under Interim

Loss Sharing (From Lines 3b and 3e)

c.Equals: Ending Balance of Cumulative Delinquency Advances

d.Add: Ending Balance of Cumulative Servicing Advances

from Prior Month's Report

e.Add: Current Month's Lender Servicing Advance

under Interim Loss Sharing (From Lines 6b and 6e)

f.Equals: Ending Balance of Cumulative Servicing Advances

g.Cumulative Servicing Advances:

Taxes Paid

Insurance Paid

Other Assessments Paid

Costs to Preserve and Protect

the Property

Equals: Ending Balance of Cumulative Servicing Advances

(Must agree with Line 7f)

h.Add: Ending Balance of Cumulative Delinquency Resolution

Costs from Prior Month's Report

i.Add: Current Month's Lender Delinquency Resolution

Costs under Interim Loss Sharing (From Lines 6g and 6j)

j.Equals: Ending Balance of Cumulative Delinquency

Resolution Costs

k.Cumulative Delinquency Resolution Costs:

Attorney Fees

Appraisal Fees

Credit Reports

Recordation Costs

Court Costs

Environmental Assessment

Other (Specify)

Equals: Ending Balance of Cumulative Delinquency

Resolution Costs (Must agree with Line 7j)

8.Wiring Instructions

1. Bank Name
2. Bank Location and Routing Number
3. Account Name and Number

Fannie Mae DUS GuidePage 1

09/03/96

DUS Interim Loss Sharing Request

Exhibit VII-3for Reimbursement Report

Lender:

Requested by: Phone:

Approved by: President/General Partner

Date:

Fannie Mae:

Reviewed by:

Approved by: Regional Multifamily Vice President

Date:

Fannie Mae DUS GuidePage 1

09/03/96