Fannie Mae Mid Month Cutoff Calculation Explanation

Fannie Mae Mid Month Cutoff Calculation Explanation

If the 22nd is a business day, the mid-month cutoff date is the 21st. If the 22nd is a holiday or weekend, the 21st will be evaluated to see if it's a business day. If it is a business day, the mid-month cutoff date will be the 20th. If the 21st is a holiday or weekend, the process will continue moving back days until a business day is found.  When found, the mid-month cutoff date will be the previous date. It is not required that the mid-month cutoff date be a business day. This is also true of our Cutoff Date. The Information set up in Event Manager for holidays will be used to determine what constitutes a business day. Clients who use business days that do not align with Fannie Mae will be able to edit the mid-month cutoff date at the cutoff tab in the Investor Detail screen.

Environment:

Investor Accounting

ArticleNumber:

000055100