• MPF Xtra
  • January 14, 2025

MPF Announcement 2025-06

MPF Xtra Servicing Update FNMA SVC-2024-06

Effective Date: Immediately (unless otherwise noted)

Fannie Mae published SVC-2024-06, which covers updates to the below referenced topics that are applicable to mortgage loans serviced under the MPF Xtra product:

  • Preventing, Detecting, and Reporting Mortgage Fraud
    • Clarified that both Sellers and Servicers are responsible for preventing, detecting, and reporting mortgage fraud.

      Effective Date: Sellers and Servicers not already in compliance with this requirement are encouraged to implement this change immediately but must do so by March 1, 2025.

  • eMortgage Servicing Requirements
    • Clarified eMortgage servicing requirements.

      Effective Date: Servicers are encouraged to implement the clarifications immediately but must do so by February 1, 2025.

  • Miscellaneous Updates:
    • Reporting Due Date for Summary Reporting Mortgage Loans
    • Update to Remitting Third-Party Sales Proceeds
    • Incorporated Lender Letter LL-2024-02, Updates to Determining the Flex Modification Terms

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.

If you have any questions, please contact the MPF Service Center via email MPF-Help@fhlbc.com or phone (877-345-2673).


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