MPF Announcement 2024-27

MPF Xtra Servicing Updates – FNMA SVC-2024-02

Effective Date: Immediately (unless otherwise noted)

Pursuant to Fannie Mae SVC-2024-02, the below referenced topics have been updated that are applicable to mortgage loans serviced under the MPF Xtra product:

• Updates to the Loan Modification Agreement (Form 3179) instructions to include:
  • require the inclusion of two new provisions for mortgage loans secured by property in New York, and
  • update the provision related to MERS.

• Miscellaneous updates:
  

  • With this update, the instructional language related to HAMP and eligibility for borrower “pay for performance” incentives have been removed from the Evaluation Notices.

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.