MPF Xtra Servicing Guide Updates
Effective Date: Immediately (unless otherwise noted)
On December 9, 2020, Fannie Mae published Servicing Guide Announcement SVC-2020-07 which cover the below referenced topics that are applicable to loans serviced under the MPF Xtra product:
Fannie Mae Servicing Announcement SVC- 2020-07
- Removed property-level earthquake insurance requirement on mortgage loans for all Puerto Rico properties, and on Guam properties constructed of masonry construction.
- Incorporated the Payment Deferral Workout option introduced LL-2020-05 in the Servicing Guide.
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 2020-89