MPF Xtra Servicing Guide Updates
Effective Date: Immediately
On November 13, 2019 Fannie Mae issued Servicing Guide Announcement SVC-2019-07 which covered the below referenced topics that are applicable to loans sold under the MPF Xtra product:
- Updated requirements related to canceling property insurance and flood insurance, if applicable when the property is acquired.
Servicers are encouraged to implement these policy changes immediately, but must do so by February 1, 2020.
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.
- MPF Announcement 2019-60