MPF Xtra Servicing Updates
Effective Date: Immediately (unless otherwise noted)
Pursuant to Fannie Mae SVC-2023-02, which covers the below referenced topics that are applicable to mortgage loans serviced under the MPF Xtra product:
- Compliance with requirements and laws: Notifying Servicers of the updated reporting requirements pursuant to SEL-2023-02 related to compliance with OFAC, HERA, and the Minority and Women Inclusion Rule outlined in SEL-2023-02. The updated reporting requirements outlined in SEL-2023-02, do not apply to PFIs/Servicers. PFIs/Servicers are required to comply with all applicable federal and state laws.
- Disaster Response Network and Know Your Options references: On April 17, 2023 the Disaster Response Network and Know Your Options website will transition to a new consumer website. All references have been updated to the new website.
- Borrower Facing Documents: Updated or created various borrower-facing documents to align with payment deferral updates announced in LL-2023-04.
As a reminder, where the Fannie Mae Servicing Guide directs communication to Fannie Mae or to utilize systems that are only available to Fannie Mae Seller/Servicers, Servicers must contact the MPF Provider. Servicers should not communicate with Fannie Mae directly.
Other topics mentioned in the Fannie Mae announcement do not apply to MPF Xtra. To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcements.
- MPF Announcement 2023-30