MPF Announcement 2022-22

MPF Xtra Servicing Guide Updates

Effective Date: Immediately (unless otherwise noted)

Fannie Mae published the below Servicing Guide Announcements, which cover the below referenced topics that are applicable to loans serviced under the MPF Xtra product:

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 17.2.2.7 Assignments and 17.2.2.8 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.