MPF Announcement 2018-62

MPF Xtra Servicing Guide Updates

Effective Date: Immediately (Unless Otherwise Noted)

On December 12, 2018 Fannie Mae issued the Servicing Guide Announcement SVC-2018-09, which covers the below referenced topics that are applicable to loans sold under the MPF Xtra product:

• Insurer Rating Requirements
• Flood Insurance Updates and Guide Alignment
• Loss Draft Proceeds and Other Unapplied Funds in Taxes and Insurance Custodial Accounts
• Incorporation of Borrower-Initiated Conventional Mortgage Insurance Termination Policies
• Effective Date Change for Certain Borrower-Initiated Conventional Mortgage Insurance Termination Policies
• Clarification on the Allowable Bankruptcy Attorney Fees 

To gain a full understanding of these topics, Servicers should review the entire Fannie Mae Announcement plus any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcements.

REFERENCE:

Fannie Mae Servicing Guide Announcement SVC 2018-09