When reviewing adjustments made for ARM loans it services for Fannie Mae, the servicer must follow all of Fannie Mae’s procedures, in accordance with C-2.2-01, Identifying and Disclosing Adjustment Errors, regardless of whether the review is undertaken as a result of
- a full audit,
- a routine spot-check of its ARM adjustments, or
- an inquiry from a third party.
For more information please see F-1-01, Servicing ARM Loans.