MPF Announcement 2024-53
MPF Xtra Servicing Updates – FNMA SVC-2024-04
Effective Date: Immediately (unless otherwise noted)
Pursuant to Fannie Mae SVC-2024-04, the below referenced topics have been updated that are applicable to mortgage loans serviced under the MPF Xtra product:
- Workout incentive fees and expense reimbursement policies
Effective: Servicers are encouraged to implement these changes immediately but must comply with these changes for:
- mortgage loan modifications and payment deferrals canceled on or after October 1, 2024; and
- mortgage loans that are reinstated or subject to a completed retention workout option on or after October 1, 2024.
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.
- References:
- MPF Announcement 2024-53
