MPF Announcement 2023-02

MPF Xtra Servicing Guide Updates

Effective Date: Immediately (unless otherwise noted)

Fannie Mae recently published Servicing Guide Announcement SVC-2022-08, which covers the below referenced topics that are applicable to loans serviced under the MPF Xtra product:

• Property, flood, and project insurance updates: updates made to ensure consistency with the updates made to the property, flood and project requirements in the Selling Guide.
• Compensatory fees for delinquency status reporting: clarification that compensatory fees may be assessed for late or inaccurate submissions of delinquency status information in addition to late or inaccurate submissions.
• Allowable foreclosure attorney fees and costs: updates to the Allowable Foreclosure Attorney Fees Exhibit.
• Miscellaneous updates:
  • Updated the incentive payment to assist borrowers with relocation expenses.

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.