• MPF Xtra
  • December 21, 2018

MPF Announcement 2018-62

MPF Xtra Servicing Guide Updates

Effective Date: Immediately (Unless Otherwise Noted)

On December 12, 2018 Fannie Mae issued the Servicing Guide Announcement SVC-2018-09, which covers the below referenced topics that are applicable to loans sold under the MPF Xtra product:

  • Insurer Rating Requirements
  • Flood Insurance Updates and Guide Alignment
  • Loss Draft Proceeds and Other Unapplied Funds in Taxes and Insurance Custodial Accounts
  • Incorporation of Borrower-Initiated Conventional Mortgage Insurance Termination Policies
  • Effective Date Change for Certain Borrower-Initiated Conventional Mortgage Insurance Termination Policies
  • Clarification on the Allowable Bankruptcy Attorney Fees 

To gain a full understanding of these topics, Servicers should review the entire Fannie Mae Announcement plus any applicable Fannie Mae Servicing Guide chapters, forms, or exhibits noted in the announcements.

REFERENCE:

Fannie Mae Servicing Guide Announcement SVC 2018-09


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