How SRP is Calculated - Traditional Newrez

Principal Balance as of MPF Sale Date x SRP = SRP Paid to the PFI    

The Servicing Released Premium (SRP) is paid based on the SRP fee schedule in effect at the time the Delivery Commitment is issued (date/time locked in). Newrez will deduct their tax service fee, processing fee, escrow deposits and if applicable the escrow waiver fee from the SRP.  Newrez has 5 days to review the servicing file for complete documentation. Once Newrez has deemed the file complete a funding memo will be emailed to the funding contact as directed on the "Selling PFI Information Sheet" for approval. The funding contact should reply to confirmation of the amounts by selecting the accept hyperlink in the email. Newrez will wire the funds to the PFI as directed in the Selling PFI Information sheet.  If the SRP results in a negative amount the PFI must wire funds to Newrez within two business days (refer to the Newrez Traditional manual for instructions).  In the event of incorrect amounts select the reject hyperlink and explain the error. Do not change the subject line of the funding email.