Standard Remittance Cycle

A payment cycle used for scheduled/scheduled remittance types for MBS pools that requires the scheduled and

The remittance cycle for which Freddie Mac calculates the actual principal and forecasted scheduled interest based on the second Business Day after the P&I Determination Date. In Loan Selling Advisor , this term can be used interchangeably with Standard Remittance Option. State As used in this Guide, the term “State” includes the 50 States, the District of Columbia, the Commonwealth of Puerto Rico and the territories and possessions of the United States. Stated Income All qualifying income reported on the Mortgage application by the Borrower. Step-Rate Mortgage A Mortgage modified under HAMP with an interest rate scheduled to step up or increase over time.