MPF Xtra Servicing Guide Update as to MI Solicitations
Effective Date: Immediately (unless otherwise noted)
On May 15, 2019 Fannie Mae issued Servicing Guide Announcement SVC-2019-03, which covers the below referenced topic that is applicable to loans sold under the MPF Xtra product:
Clarified Mortgage Insurance (MI) Termination Solicitations –now authorizing to solicit a borrower for MI termination based on original value only.
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 Announcements on the following pages, and any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcements.