MPF Announcement 2022-11

MPF Xtra^® Investor Daily Reporting Reminder  

Effective Date: Immediately (unless otherwise noted)

As communicated in MPF Announcement 2022-06, effective immediately, Servicers must report mortgage loan activity daily to the Master Servicer, Computershare.

Daily Reporting Requirements

Servicers must only report mortgage loans with activity, if there is no activity on a given day, a loan level activity report does not have to be submitted to the Master Servicer.

All mortgage loans without activity for the month must be reported on the 22^nd Calendar Day of each month, if the 22^nd Calendar Day falls on a weekend or holiday, the daily report is due on the prior Business Day. The report should include all activity from previous business day.

The MPF Xtra Servicing Guide and applicable MPF Exhibits have been updated to reflect the daily reporting requirements.

Acceptable Formats for Daily Reporting

• The current MPF Xtra formats (Exhibit C: Electronic Transmission - ASCII Text File Layout and Exhibit D: Electronic Transmission - Excel Data File Format); and
• Fannie Mae’s LAR 96 file.*

*As a reminder, the MPF Program is transitioning to the LAR 96 and will be communicating a mandatory implementation date at a later date. In the meantime, Servicers are encouraged to begin using and/or testing the LAR 96.

To begin using the LAR 96, Servicers must notify the Master Servicer at least 15 days before submitting their first LAR 96 file, by submitting the MPF Xtra Reporting Change Notification (Form SG370-X).

To begin testing the LAR 96 with the Master Servicer (Computershare) by, completing one of the two testing options: 

• Upload the test file to their respective ServicerConnect library with the naming convention of “test_file_LAR96”. Once uploaded, they should send a notification email to servicerconnect@wellsfargo.com with the subject line “Expanded LAR96 Format Validation Request”.
• Should a service provider not have access to a ServicerConnect library, they can attached the test file to a notification email sent to servicerconnect@wellsfargo.com with the subject line “Expanded LAR96 Format Validation Request”.

Master Servicer will provide feedback within three (3) business days of receipt of the test file. The testing will focus on the file format and not the data content. Master Servicer will not be reviewing the accuracy of the loan level data provided, but only reviewing and validating that the file is presented in the correct format including field layout. If Servicers have any questions during testing, please email servicerconnect@wellsfargo.com.

We appreciate your continued support of the MPF Program. Please contact the MPF Service Center with any questions.