Fannie Mae Purchase Agreement

(i) If Fannie Mae requests the Seller to redeem the Mortgage, Servicer may at its discretion require the Seller to redeem the Service Rights. The seller is then required to reimburse the price paid by the services for maintenance fees in accordance with the schedule set out in Annex A of the agreement. Fannie Mae uses her own real estate purchase agreement for our properties. If the document contains something that you do not understand or feel comfortable with, you should go to a real estate lawyer, the real estate seller who listed the property or the real estate agent of your choice to check it with you. (v) Where, after the date of purchase, with respect to a mortgage, it is determined that a private mortgage insurance policy is not in effect or has been terminated on the date of purchase in respect of such a mortgage and that the omission of such policy is due to the negligence of the seller on or after the date of purchase, the seller must: to enforce such a policy or be reinstated by the relevant insurer, or (b) redeem Servicer`s associated service rights at the redemption price of the service rights. If the seller does not comply with the above sentence with respect to a mortgage, servicer will inform Fannie Mae to initiate the process of redeeming this mortgage. Servicer shall not be required at any time to send funds to reinstate a private mortgage insurance policy or to transfer losses to Fannie Mae for the purposes set out in this subsection. When Servicer is informed of a cancellation of the private mortgage insurance policy, the servicer seller will reimburse all amounts due within fifteen (15) business days of receipt of Servicer`s refund request, provided that this policy cannot be reinstated. 4.1 Seller. The purchase price paid to the seller for the mortgage service fee minus the service fee is included in the net PRSs indicated by Fannie Mae and accepted by the seller for the sale of the mortgage to Fannie Mae. .

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