MPF Announcement 2021-55

MPF Xtra Selling Guide Updates 

Effective Date: Immediately (unless otherwise noted)

Fannie Mae recently issued Selling Guide Announcement SEL-2021-06 which covered the below referenced topics that are applicable to loans sold under the MPF Xtra product:

• Reduces the documentation requirements for certain refinances.
• Clarified when an appraisal update or new appraisal is needed.
• Alignment with previously announced policy changes.
• Updated all uniform legal instruments to enhance clarity and usability.

Other topics mentioned in the Fannie Mae announcement do not apply to MPF Xtra. To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.