This topic describes how Fannie Mae compensates lenders for servicing loans on its behalf, including:
A lender’s servicing compensation when obtaining mandatory commitments is described in its applicable servicing contract. Lenders must also specify a maximum allowable servicing fee, which may differ, depending on the mortgage product. For example, the maximum servicing fee for all fixed-rate loans is 50 basis points (.50%).
Unless otherwise provided in the related servicing contract, every month, lenders deduct their servicing fee from the borrower’s interest payment before remitting the remainder to Fannie Mae. Lenders will receive a servicing fee from Fannie Mae only for the period during which it serviced the loan on Fannie Mae’s behalf.
For additional information regarding minimum and maximum servicing fees, refer to Servicing Guide F-2-10, Servicing Fees for Portfolio Mortgage Loans.