MPF Xtra Servicing Guide UpdatesEffective 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.
- MPF Announcement 2021-53