Servicing Guide

Published September 9, 2020

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Fannie Mae Investor Reporting Manual- Chapter 3, Reporting Non-Payment Transactions

Chapter 3, Reporting Non-Payment Transactions

In addition to Payment Transactions, the servicer is required to update Fannie Mae’s records with other mortgage loan information. These reportable non-payment transactions include:

  • Transaction Type 32 (Servicing Transfer Record),
  • Transaction Type 81 (Lender Loan I.D. Change Record),
  • Transaction Type 82 (Loan Address Change Record),
  • Transaction Type 83 (Payment/Rate Change Record), and
  • Transaction Type 89 (Discontinuance of Mortgage Insurance).

3-01, Reporting a Transaction Type 32 (Servicing Transfer Record) (01/18/2017) 

3-02, Reporting a Transaction Type 80 (Subservicer Arrangement Record) (01/18/2017)

3-03, Reporting a Transaction Type 81 (Lender Loan I.D. Change Record) (01/18/2017)

3-04, Reporting a Transaction Type 82 (Loan Address Change Record) (01/18/2017)

3-05, Reporting a Transaction Type 83 (Payment/Rate Change Record) (01/18/2017)

3-06, Reporting a Transaction 89 (Discontinuance of Mortgage Insurance) (01/18/2017)

 

3-01, Reporting a Transaction Type 32 (Servicing Transfer Record) (01/18/2017)

A servicer that has received approval for transfer of servicing must transmit loan-level information for the mortgage loans that will be included in the transfer to the Fannie Mae investor reporting system. The following table provides additional instructions regarding these transactions.

ü

The servicer must…

 

Complete a Request for Approval of Servicing or Subservicing Transfer (Form 629) and email it to the Regional Office at least 60 days prior to the Effective Date.

  • Note: The Form 629 is only required for external transfers where the first five digits are different and it does not impact a sub-servicer transfer.

 

Finalize the transfer request by the 25th calendar day of the month prior to the transfer effective date.

 

Use Transaction Type 32 (Servicing Transfer Record) to provide this information.

 

Submit this loan-level information in time for Fannie Mae to receive it no later than 15 days before the effective date of the transfer; although it may be submitted as early as six months before the proposed effective date.

Record specifications and descriptions for Transaction Type 32 are shown in the following table.

Data Element

Position(s)

Length

Description

Transferor Lender Number

1-9

(9)

Numeric

Blank

10

(1)

Alphanumeric; blank

Record Identifier

11-12

(2)

Numeric; Always 32

Source Code

13

(1)

Numeric; Always zero (0)

Fannie Mae Loan Number

14-23

(10)

Numeric; Fannie Mae loan number

Request Effective Date

24-29

(6)

Numeric; CCYYMM format; for a transfer that is effective January 31, 2003, use 200301

Transferee Lender Number

30-38

(9)

Numeric

Lender Loan I.D.

39-53

(15)

Alphanumeric

Transfer Request Type Code

54-55

(2)

Numeric; as detailed below:
00 – Non-MBS Loan
10 – MBS Loan

 

3-02, Reporting a Transaction Type 80 (Subservicer Arrangement Record) (02/15/2017)

This topic has been deleted.

3-03, Reporting a Transaction Type 81 (Lender Loan I.D. Change Record) (01/18/2017)

Transaction Type 81 (Lender Loan I.D. Change Record) must be used to add, delete, or change the information Fannie Mae is carrying in its records for the servicer's unique identifier for the mortgage loan. The servicer can determine the I.D. that Fannie Mae is carrying in its records by reviewing the trial balance report that Fannie Mae provides. (See Detailed Reporting Trial Balance Report (DRTB) Job Aid, which is available on Fannie Mae’s website.) Record specifications and descriptions for Transaction Type 81 are shown in the following table.

Data Element

Position(s)

Length

Description

Lender Number

1-9

(9)

Numeric

Investor

10

(1)

Alphanumeric; Always F = Fannie Mae

Record Identifier

11-12

(2)

Numeric; Always 81

Source Code

13

(1)

Numeric; Always zero (0)

Fannie Mae Loan Number

14-23

(10)

Numeric

New Lender Loan I.D.

24-38

(15)

Alphanumeric

Filler

39-80

(42)

Alphanumeric; Blanks

 

3-04, Reporting a Transaction Type 82 (Loan Address Change Record) (01/18/2017)

Transaction Type 82 (Loan Address Change Record) must be used to update Fannie Mae's records to reflect changes or corrections to a property address. Changes that must be reported include:

  • the renumbering or renaming of streets,
  • changing an address from a lot and block description to a house number and street, and
  • changing ZIP codes because of postal realignments.

Record specifications and descriptions for Transaction Type 82 are shown in the following table.

Data Element

Position(s)

Length

Description

Lender Number

1-9

(9)

Numeric

Investor

10

(1)

Alphanumeric; Always F = Fannie Mae

Record Identifier

11-12

(2)

Numeric; Always 82

 

Data Element

Position(s)

Length

Description

Source Code

13

(1)

Numeric; Always zero (0)

Fannie Mae Loan Number

14-23

(10)

Numeric

New Street

24-55

(32)

Alphanumeric; combination of house or building number, street type (La = Lane, Ave = Avenue, etc.), street direction (NE, NW, SE, SW), and unit number, if applicable.

City

56-70

(15)

Alphabetic; truncate if necessary

Zip Code

71-75

(5)

Numeric

Blank

76-80

(5)

Alphanumeric; Blanks

 

3-05, Reporting a Transaction Type 83 (Payment/Rate Change Record) (01/18/2017)

The Transaction Type 83 is used to update Fannie Mae’s loan records of changes to the rate and/or payment for a mortgage loan.  Changes to the rate or payment that must be reported include:

  • Scheduled Rate Change/Payment Changes
  • Scheduled Rate Changes Only
  • Scheduled Payment Changes Only
  • ARM to Fixed Rate Loan Conversions
  • Borrower Requested Payment Recast (excludes I/O loans in Interest Only period)

The following table provides a list of servicer requirements for reporting Transaction Type 83 (Trans 83).

If the loan has a...

The servicer must…

Scheduled Rate Change / Payment Change

Report the Transaction Type 83 to Fannie Mae prior to 8 PM eastern standard time on the 5th Business Day after the Scheduled Rate Calculation Date (Rate Effective Date minus the Look Back Period.

Scheduled Rate Change Only

Report the Transaction Type 83 to Fannie Mae prior to 8 PM eastern standard time on the 5th Business Day after the Scheduled Rate Calculation Date (Rate Effective Date minus the Look Back Period).

Scheduled Payment Change Only

Report the Transaction Type 83 to Fannie Mae prior to 8 PM eastern standard time on the 5th Business Day after the Scheduled Payment  Calculation Date

ARM to Fixed Conversion

Report a Transaction Type 83 for the conversion by no later than the due date of the Fannie Mae investor reporting system reports for the reporting period that includes the effective date for the new monthly payment, but may report the Transaction Type 83 to Fannie Mae when it transmits its first Fannie Mae investor reporting system reports after it knows the effective date of the conversion and the new converted interest rate and monthly payment.

Unscheduled Rate/Payment Change

Use the Transaction Type 83 to report any unscheduled change event for a loan, including:

  • a change to the loan’s P&I due to a curtailment made by the borrower, or
  • a change to the loan’s interest rate and P&I due to the borrower’s qualifying for an interest rate reduction (such as a Timely Payment Reward loan).

 

Record specifications and descriptions for Transaction Type 83 are included in the following table.

Data Element

Position(s)

Length

Description

Lender Number

1-9

(9)

Numeric

Investor

10

(1)

Alphanumeric; Always F = Fannie Mae

Record Identifier

11-12

(2)

Numeric; Always 83

Source Code

13

(1)

Numeric; Always zero (0)

Fannie Mae Loan Number

14-23

(10)

Numeric

Effective with Payment Due on

24-27

(4)

Numeric; MMYY format

Index Value

28-33

(6)

Alphanumeric; 99v9999; Index Value or blank; code 6.5% as 065000

New Interest Rate

34-39

(6)

Alphanumeric; 99v9999; Interest Rate or blank; code 8.25% as 082500

Pass-Through Rate

40-45

(6)

Alphanumeric; 99v9999; Pass-Through Rate or blank; code 7.25% as 072500

New Payment

46-54

(9)

Alphanumeric; New Payment Amount or blank; code $700.25 as 000070025

Extended Term

55-57

(3)

Alphanumeric; Extended Term or blank

Converted to Fixed Rate

58

(1)

Alphanumeric; Uppercase Y if converted; otherwise blank

Filler

59-80

(22)

Alphanumeric; Blanks

 

3-06, Reporting a Transaction 89 (Discontinuance of Mortgage Insurance) (01/18/2017)

The servicer must notify Fannie Mae about an automatic termination or a borrower-initiated cancellation of mortgage insurance coverage via a Transaction Type 89. The termination or cancellation must be reported by the last reporting day of the reporting period in which the effective date of the termination occurs.

The reason for the MI Discontinuance is distinguished by action codes. The proper action code that must be reported differs based on whether the MI is automatically terminated or is canceled based on the borrower’s request to do so.

Action codes are further described in the following table.

Action Code

The servicer must use this code…

51

to report a borrower-initiated cancellation based on the original value of the property (or, in the case of a second-lien mortgage loan, the value of the property at the time the second-lien mortgage loan was originated)

52

to report a borrower-initiated cancellation based on the current appraised value of the property

53

to report an automatic termination (regardless of whether the termination is based on the scheduled LTV ratio or the date that is the mid-point of the amortization period).

54

to report termination due to high risk.

Record specifications and descriptions for Transaction Type 89 are included in the following table.

Data Element

Position(s)

Length

Description

 Lender Number

1-9

(9)

Numeric

Investor

10

(1)

Alphanumeric; Always F = Fannie Mae

Record Identifier

11-12

(2)

Numeric; Always 89

Source Code

13

(1)

Numeric; Always zero (0)

Fannie Mae Loan Number

14-23

(10)

Numeric

Action Code

24-25

(2)

Numeric

Action Date

26-31

(6)

Numeric; MMDDYY format

Filler

32-80

(49)

Alphanumeric; Blanks or zeroes

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