MPF Xtra Servicing Guide Updates
Effective Date: Immediately (unless otherwise noted)
Fannie Mae Servicing Guide Announcement SVC-2022-02
- Clarified requirements related to the completion of transfers of ownership of a property.
- Removed the requirement to suspend reporting to the credit bureaus in certain instances related to U.S. servicemembers.
Fannie Mae Servicing Guide Announcement SVC-2022-03
- In this update, Fannie Mae eliminated the requirement to provide unrecorded assignments of mortgage for loans not registered with Mortgage Electronic Registration System, Inc. (MERS®). This update does not apply to MPF Xtra loans, PFIs are required to provide assignments in accordance to MPF Xtra Selling Guide 126.96.36.199 Assignments and 188.8.131.52 Recording Assignments.
- Miscellaneous Updates:
- Transitioned to a new foreclosure and bankruptcy data reporting system
- Updated cutoff time for drafting instructions.
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 Announcement plus any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcement.
- MPF Announcement 2022-22