MPF Announcement 2023-102

MPF Xtra Servicing Updates – FNMA SVC-2023-05 (Revised)

Effective Date: Immediately (unless otherwise noted)

Fannie Mae published an update to SVC-2023-05, in response to Servicer feedback, the updated version of the Loan Modification Agreement (Form 3179) that was published on October 11, 2023, which included additional instructions in response to New York’s Foreclosure Prevention Act was removed. Fannie Mae has reposted the version of Form 3179 that was in effect prior to October 11, 2023.

Servicers must continue to use the prior version of Form 3179, which must be modified as needed to comply with applicable federal, state, and local law.

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.