Servicing Guide

Published September 9, 2020

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What are the servicer responsibilities as it relates to investor reporting?

The following table outlines the servicer responsibilities related to reporting to Fannie Mae.

The servicer must...
 

Use an automated format to report all loan-level transactions on its entire mortgage loan portfolio using Fannie Mae’s investor reporting system.

 

Ensure the transactions are reported in sufficient time for Fannie Mae to receive the notifications based on the following table.

  If the transaction is... Then the servicer must report...
  a removal transaction (payoff, repurchase or foreclosure action)
  • by 5 p.m. eastern time on the next business day if the servicer processes the transaction in its system on the first business day of the month.

  • by 8 p.m. eastern time on the next business day if the servicer does not process the transaction in its system on the first business day of the month.

  • corrections to reporting errors for removal transactions by 5 p.m. eastern time on the second business day of the month following the reporting period.

  not a removal transaction
  • on all mortgage loans by 8 p.m. eastern time on the 22nd calendar day of the month of the reporting period. If the 22nd calendar day falls on a weekend or holiday, then the servicer must report the mortgage loan activity by 8 p.m. eastern time on the preceding business day.

  • corrections to reported activity and any subsequent activity that occurred from the 22nd calendar day and until the end of the reporting period by 8 p.m. eastern time on the first business day of the month following the reporting period.

 

Reconcile the investor reporting system reports it receives from Fannie Mae to its internal records and make available to Fannie Mae upon request.

 

Perform a thorough review and correct all transactional errors and data discrepancies, if applicable.

The servicer must see Fannie Mae’s Investor Reporting Manual for additional reporting instructions, an explanation of proper reporting codes, and for the correct use of formulas and calculations.

For more information see Servicing Guide, C-4.3-01, Servicer Responsibilities Related to Investor Reporting.

 

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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