MPF Announcement 2024-60
MPF Xtra Selling Updates – FNMA SEL-2024-05
Effective Date: Immediately (unless otherwise noted)
Fannie Mae published SEL-2024-05 which covers the below referenced topics that are applicable to mortgage loans sold under the MPF Xtra product:
- Rent-related credits: Updated policies and guidelines pertaining to rent credit with an option to purchase and rent-back credit.
- Miscellaneous updates:
- DU Validation Service – Asset Validation Updates
- Income Calculator and enforcement relief of certain representations and warranties
- IRS tax transcripts
- Temporary interest rate buydowns clarifications
*The MPF Xtra Selling Guide was updated to permit an alternative IRS form or process for additional information refer to section 5.4 4506-C and Tax Transcripts.
To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.
- References:
- MPF Announcement 2024-60
