How SRP is Calculated - Xtra SLS
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). MPF Xtra servicing released to SLS is a full net funding product. MPF buys the loan, pays the agent fee, deducts the LLPAs along with the escrows and pays the SRP less any SLS fees.