MPF Xtra Selling Guide Updates
Effective Date: Immediately (unless otherwise noted)
Fannie Mae recently issued Selling Guide Announcement SEL-2021-03 which covered the below referenced topics that are applicable to loans sold under the MPF Xtra product:
- Revised the Master Terms and Conditions to the Software Subscription Agreement that is on Fannie’s website.
- Clarified responsibilities related to gift funds identified in the Desktop Underwriter® validation service.
- Incorporated new eligibility requirements announced in Lender Letter LL-2021-08, for loans secured by second home and investment properties.
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.
- MPF Announcement 2021-34