Servicing Guide

Published June 09, 2021

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F-5-01: Servicing Guide Change Control Log (06/09/2021)

This topic summarizes the updates made to the Servicing Guide during the current calendar year.

 

Change Control Log

The following table provides a description of the updates.

Announcement Topic Description
SVC-2021-03, Servicing Guide Updates (06/09/2021) IRS Reporting Updates IRS reporting requirements so that the servicer uses its own mortgage loan number and address on IRS forms in place of Fannie Mae’s address, its nine-digit Fannie Mae seller/servicer number, and/or Fannie Mae’s loan number or MBS pool number when filing a firm on Fannie Mae’s behalf.

Topics impacted:

Form impacted:

  • Summary of IRS Form 1099-A and 1099-C Filing (Form 1100)

Soliciting a Borrower for a Post-Forbearance Disaster Payment Deferral Clarifies that the borrower must make their full monthly contractual payment during the month of solicitation for a disaster payment deferral if, as of the date of evaluation, the mortgage loan is 12 months delinquent.

Topic impacted:

Manual impacted:

  Loss Mitigation Valuations Streamlines the use of two disparate applications (Automated Property Service™ and Loss Mitigation Valuations) for obtaining loss mitigation valuation information into a single platform in Fannie Mae’s servicing solutions.

Topics impacted:

Verifying a Borrower’s Income and Assets stated on the Mortgage Assistance Application (Form 710) Provides servicers with an alternative means of verifying borrower income and asset information through the use of third-party vendors, rather than relying on the borrower to provide supporting documentation.

Topics impacted:

Miscellaneous Revision Notifies servicers of updates to the Fannie Mae Software Subscription Agreement Master Terms and Conditions.
Announcement Topic Description
SVC-2021-02, Servicing Guide Updates (03/10/2021) Reimbursement for Recording Costs Associated with a Mortgage Loan Satisfaction Updates the Servicing Guide to reflect a recent procedural change for servicers when requesting reimbursement of recording costs incurred with a mortgage loan satisfaction.

Impacted topics:

Obtaining a Property Valuation for Charge-Offs Updates the servicer’s requirements when submitting a Charge-Off request to Fannie Mae’s servicing solutions system.

Impacted topic:

Contact to request approval to pay third party out of insurance loss proceeds Clarifies the process for servicers to submit requests for approval for payment of expenses related to the use of third-parties in property insurance loss claims from the insurance loss proceeds.

Impacted topic:

SVC-2021-01, Servicing Guide Updates (01/20/2021) Automatic Reclassification Time Frame for Delinquent MBS Mortgage Loans Incorporates Lender Letter LL-2020-13 and extends automatic reclassification triggers from four to 24 months for most delinquent MBS mortgage loans.

Impacted topics:

Delinquency Status Reporting for a Disaster Payment Deferral Eliminates the requirement for reporting a delinquency status code for a disaster payment deferral if the mortgage loan is brought current.

Impacted topic:

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