• MPF Xtra
  • July 19, 2021

MPF Announcement 2021-53

MPF Xtra Servicing Guide Updates

Effective Date: Immediately (unless otherwise noted)

Fannie Mae published Servicing Guide Announcement SVC-2021-03 which cover the below referenced topics that are applicable to loans serviced under the MPF Xtra product:

Fannie Mae Servicing Announcement SVC- 2021-03:

  • Provides an alternative means of verifying borrower income and asset information through the use of third-party vendors.
  • Clarifies when the borrower must make their full monthly contractual payment during the month of solicitation for the disaster payment deferral.
  • Streamlines method of obtain loss mitigation valuation information into a single platform.
  • Updates requirements for filing IRS forms.
  • Clarifies verbiage related to hazard loss disbursements.

Other topics mentioned in the Fannie Mae announcement do not apply to MPF Xtra. 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.

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