MPF Servicing Summary Announcement 2023-S12

MPF Servicing Announcements

Date: November 3, 2023

This document contains multiple MPF Servicing Announcements being published on this date. 

PFIs and Servicers must refer to the actual MPF Announcement for the specific requirements and guidance.

MPF Xtra^®

MPF Announcement 2023-84: MPF Xtra Servicing Updates – FNMA SVC-2023-05

Fannie Mae updated the Loan Modification Agreement, minimum requirements for law firms selected and retained for default-related legal services, incorporated updates from LL-2023-04, and added guidance for reapplying principal payments, all of which are applicable to mortgages serviced under the MPF Xtra product.

MPF Announcement 2023-85: MPF Traditional & MPF Xtra – Request for Release of Documents Reminder

In efforts to ensure document release requests are submitted in a timely manner, the MPF Program will be distributing a monthly report notifying PFIs of mortgage loans that have been liquidated but have collateral files that have not been requested for release form the MPF Program Custodian.

Reminders

MPF Program would like to remind PFIs and Servicers that the MPF Program policies related to delivery and servicing of mortgage loans affected by major disasters are included in the product specific MPF Selling/Servicing Guides.

Upcoming Webinars

Wednesday, November 8^th – How Well Do You Know MPF Traditional Product Underwriting Guidelines?

This webinar will provide a fun way to test your knowledge of the MPF Traditional underwriting guidelines. There will be quiz questions on various underwriting scenarios as well as some MPF Program trivia.

Thursday, November 9^th – MPF University Welcomes MGIC: Focus on Partnerships and S-Corps

This comprehensive webinar takes you on a step-by-step review of the Partnership and S Corporation tax returns. Defining common terms and theories, such as nonrecurring vs. recurring income or expenses, distributions and guaranteed payments, will help you develop a clearer picture of your self-employed borrower’s income and financial standing.

Please visit the following links to register for upcoming webinars and view our on-demand webinar library.

*All webinars begin at 1 p.m. CT