MPF Xtra Servicing Guide Updates
Effective Date: Immediately (unless otherwise noted)
On November 17, 2021 Fannie Mae published Servicing Guide Announcement SVC-2021-08 which covers the below referenced topics that are applicable to loans serviced under the MPF Xtra product:
- Updated the required initial delinquency inspection order date from no earlier than the 60th day of delinquency to no earlier than the 90th day of delinquency.
- Incorporated additional property inspection clarifications, including that Servicers are not permitted to complete inspections when the property is borrower/tenant occupied. Effective Date: Servicers are encouraged to implement this policy change immediately, but must do so by February 1, 2022.
Clarified that Servicers must continue to instruct mortgage insurers to release data as applicable for mortgage loans insured under MI master policies in effect prior to October 1, 2014.
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 2021-83