MPF Xtra Servicing Guide Updates
Effective Date: Immediately (unless otherwise noted)
On August 27, 2020 Fannie Mae published several servicing updates all issued respectively, which cover the below referenced topics that are applicable to loans serviced under the MPF Xtra product:
Updates to Fannie Mae Lender Letter LL-2020-05: Payment Deferral
- Incorporated minor revisions to better clarify the intent of certain requirements in response to Servicer inquiries.
Updates to Fannie Mae Lender Letter LL-2020-11: Disaster Payment Deferral
- Updated the authority to offer an initial forbearance plan of up to three months without achieving QRPC in connection with a disaster event.
- Incorporated minor revisions to better clarify the intent of certain requirements in response to servicer inquiries.
To gain a full understanding of these topics, Servicers should review the entire Fannie Mae Lender Letters plus any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcement.
- MPF Announcement 2020-56