Common use of Special Feature Code Clause in Contracts

Special Feature Code. For all Mortgages originated under these terms and conditions, Lender is required to enter Special Feature Code “460” on the Loan Schedule (Form 1068) or Schedule of Mortgages (Form 2005). Community 97 Fixed-Rate Mortgage, 7/1 or 10/1 ARMS (no ARMS where EEM guidelines used) PMM or No Cash-Out Refinance (Existing UPB of first mortgage rounded to the nearest $100) Owner-Occupied None Not Allowed One Unit* 97 %** 105 % If borrower income exceeds area median income limitations, verify property is in a FannieNeighbors location through ▇▇▇▇▇▇ Mae’s geocoding service through ▇▇▇▇▇▇▇▇▇▇.▇▇▇ Must meet Community Seconds guidelines For SMC-Eligible = 35% For SMC-lneligible = 35% for LTVs of over 90-100% 30% for LTVs of over 85-90% 25% for LTVs of over 80-85% Community 100 100 % Community 100 Plus Community 2-Family 2 Units 95 % * Includes condos, PUDs, manufactured housing. Coops allowed for Community 97 only. Provided, however, where EEM guidelines used, no manufactured housing and no coops allowed. ** 90% for coops.

Special Feature Code. For all Mortgages originated under these terms and conditions, Lender is required to enter Special Feature Code “460480” on the Loan Schedule (Form 1068) or Schedule of Mortgages (Form 2005). Community 97 Fixed-Rate Mortgage, 7/1 or 10/1 ARMS (no ARMS where EEM guidelines used) PMM or No Cash-Out Refinance (Existing UPB of first mortgage rounded to the nearest $100) Owner-Occupied None Not Allowed One Unit* 97 %** 105 % If borrower income exceeds area median income limitations, verify property is in a FannieNeighbors location through ▇▇▇▇▇▇ Mae’s geocoding service through ▇▇▇▇▇▇▇▇▇▇.▇▇▇ Must meet Community Seconds guidelines For SMC-Eligible = 35% For SMC-lneligible = 35% for LTVs of over 90-100% 30% for LTVs of over 85-90% 25% for LTVs of over 80-85% Community 100 One Unit* 100 % Community 100 Plus Community 2-Family 2 Units 95 % * Includes condos, PUDs, manufactured housing. Coops allowed for Community 97 only. Provided, however, where EEM guidelines used, no manufactured housing and no coops allowed. ** 90% for coops.