Servicing Guide

Published November 10, 2020

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Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual June 12, 2019 (Chapter 6, Reporting through eBoutique)

See below for Chapter 6: Reporting through eBoutique 

To see other Chapters of the Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual, please click on any of the chapters below:

Chapter 1, Reverse Mortgage Loan Products

Chapter 2, Doing Reverse Mortgage Loan Business with Fannie Mae

Chapter 3: General Servicing Requirements

Chapter 4: Assisting Borrowers At Risk of Default or In Default

Chapter 5: Processing Claims and Managing Acquired Properties

Chapter 7: Quick Reference Materials

 

6-01, Reporting Specific Transactions to Fannie Mae

This section contains the following topics:

6-02, eBoutique Reports

This section contains the following topic:

6-01-01, Reporting Specific Transactions (03/25/2015)

Fannie Mae’s reverse mortgage loan reporting system, eBoutique, is a web-based application that provides access to the Fannie Mae reverse mortgage loan database, which includes information about each reverse mortgage loan in a servicer’s portfolio. Fannie Mae carries multiple balances for each mortgage loan:

  • total mortgage loan balance,
  • amount in any repair set-aside,
  • amount in any T&I set-aside,
  • amount in any line of credit, and
  • amount of any draws made at closing.

When the servicer transmits transaction records to Fannie Mae, eBoutique will evaluate the data and respond to the servicer with the results. The system will update the database for each error-free transaction by debiting or crediting the appropriate balance or by transferring an amount from one balance to another. If the system notifies the servicer about an erroneous transaction, the servicer can correct the error and resubmit the rejected transaction.

eBoutique enables Fannie Mae to process servicing transactions on the same day the servicer transmits them to Fannie Mae—up until 2:00 p.m. (eastern time) on the last calendar day of each month. Any transaction that Fannie Mae receives after this cut-off time will be processed with the following month’s activity as a “prior-period” adjustment. As a result of the daily processing, Fannie Mae is able to have its records updated at the close of business on the last day of the month and to disburse servicing fees and mortgage insurance to the servicer by the third business day of the following month.

The servicer must report mortgage loan-level detail for reverse mortgage loans to Fannie Mae as each specific activity occurs (see 5-01, Submitting the REOgram for additional information). The types of activity that must be reported for an individual mortgage loan are summarized under five different transaction types:

  • payment plans,
  • partial prepayments,
  • “unscheduled” payments to the borrower,
  • mortgage loan status maintenance, and
  • payoffs.

Each transaction type has its own action reporting codes to describe specific activities associated with that type of transaction. The servicer must also submit trial balance information for its reverse mortgage loan portfolio and report transfers of servicing involving reverse mortgage loans to Fannie Mae.

6-01-02, Payment Change Transactions (05/28/2014)

As soon as the servicer receives the borrower’s acknowledgment of the terms of a requested payment plan change, the change must be reported to Fannie Mae. A payment plan change may involve a change from one payment plan to another or a change in the terms of the borrower’s payment plan.

The servicer must report both the new payment plan or terms and the reason for the change in the following manner:

  • Payment plans must be identified as one of the following:
  1. a term payment plan (for HECM loans only),
  2. a tenure payment plan,
  3. a modified term payment plan (for HECM loans only),
  4. a modified tenure payment plan, or
  5. a line of credit payment plan.
  • The reason for the change must be identified as one of the following:
  1. access growth for T&I,
  2. access growth for repairs,
  3. access growth for purchase adjustment, or
  4. borrower’s request.

This topic contains information on the following:

  • Change from One Plan to Another
  • Change in Terms of Existing Plans
  • Change in Withholding Amount

Change from One Plan to Another

If the borrower is changing from one payment plan to another, the servicer must indicate the new payment plan and the reason for the change when it reports the payment plan change transaction. The additional information that the servicer will need to report will depend on the type of new payment plan the borrower selected, and on whether the servicer is making T&I payments on the borrower’s behalf.

Change from One Plan to Another

If the new payment plan is a…

Then the servicer must indicate…

term payment plan

  • the number of remaining months during which the borrower should receive scheduled payments;
  • the amount of the scheduled payments;
  • the effective date of the plan change; and
  • the amount (or percentage) to be withheld and the beginning and ending dates for the withholding if the servicer is withholding funds from the scheduled payments to make T&I payments.

tenure payment plan

  • the amount of the scheduled monthly payment to the borrower;
  • the effective date of the plan change; and
  • the amount (or percentage) to be withheld and the beginning and ending dates for the withholding if the servicer is withholding funds from the scheduled payments to make T&I payments.

modified term payment plan

  • the number of remaining months during which the borrower should receive scheduled payments;
  • the amount of the borrower’s line of credit reserve;
  • the amount of the scheduled payments;
  • the effective date of the plan change; and
  • the amount (or percentage) to be withheld and the beginning and ending dates for the withholding if the servicer is withholding funds from the scheduled payments to make T&I payments.

modified tenure payment plan

  • the amount of the scheduled monthly payment to the borrower;
  • the amount of the borrower’s line of credit reserve;
  • the effective date of the plan change; and
  • the amount (or percentage) to be withheld and the beginning and ending dates for the withholding if the servicer is withholding funds from the scheduled payments to make T&I payments.

line of credit payment plan

  • the amount of the borrower’s line of credit reserve, and
  • the effective date of the plan change.

Change in Terms of Existing Plans

There may be instances in which a borrower requests a change in the terms of his or her existing payment plan or the servicer initiates a change to recover advances it made or to give the borrower credit for monies he or she is due. Generally, these payment changes should be reported in the same way that the servicer reports a change from one plan to another, except that the servicer should indicate the borrower’s existing payment plan when it reports the payment plan change transaction (since the same plan will remain in effect, albeit with modified terms).

Change in Withholding Amount

The servicer generally withholds an amount from the borrower’s scheduled monthly payment only if the borrower requests the servicer to make T&I payments on his or her behalf. The servicer may also assume responsibility for making these payments—and withhold the appropriate amount from the borrower’s scheduled payments—if the borrower fails to pay T&I payments that he or she agreed to pay. There will also be occasions in which a servicer that has been withholding funds from the borrower’s scheduled payment to make T&I payments on the borrower’s behalf will no longer need to do so.

To begin withholding funds from a borrower’s scheduled payments, the servicer should report a payment plan change to reflect the amount (or percentage) to be withheld and the beginning and ending dates for the withholding, following the general procedures for reporting changes from one payment plan to another. Should the servicer need to discontinue its withholding for T&I payments, it should report a payment plan change, showing the appropriate scheduled monthly payment and indicating a “zero” withholding amount.

6-01-03, General Servicing Transactions (12/12/2018)

There are four types of general servicing transactions that the servicer must report to Fannie Mae:

  • A partial prepayment occurs when the borrower submits funds to be applied toward repayment of the mortgage loan debt.
  • An “unscheduled” payment occurs when the borrower requests a draw against the line of credit or when the servicer removes funds from a set-aside account.
  • Mortgage loan status maintenance occurs when there has been a change in the mortgage loan status, which may mean that payments to the borrower will need to be stopped or resumed, that action has been taken to liquidate the mortgage loan, that the borrower has declared bankruptcy, etc.
  • A payoff occurs when the borrower (or his or her estate) repays the mortgage loan debt in full; a repurchase occurs when the servicer fulfills a contractual obligation by repurchasing the mortgage loan from Fannie Mae.

This topic contains information on the following:

  • Partial Prepayment Transactions
  • Unscheduled Payment Transactions
  • Mortgage Loan Status Maintenance Transactions
  • Payoff and Repurchase Transactions

Partial Prepayment Transactions

The servicer must perform the actions required in the following table when any partial prepayments are received from the borrower.

     ✓

The servicer must…

 

Report the prepayments received to Fannie Mae.

 

Remit the funds to Fannie Mae within 24 hours of receipt.

 

Provide the following information to Fannie Mae:

  • the amount of the prepayment,
  • the eBoutique action code that is associated with the transaction, and
  • the effective date of the repayment.

 

Any partial prepayment received from the borrower will decrease the balance of the mortgage loan (and increase the borrower’s net principal limit). The servicer must select from the eBoutique action codes described in the following table to instruct Fannie Mae about the application of the repayment.

eBoutique Action Code…

Is used to indicate that the prepayment must be…

80

  • applied to reduce the mortgage loan balance for an FHA HECM unless the borrower has a line of credit payment plan (in which case, Code 81 should be used), or 
  • used to reduce the mortgage loan balance for a Home Keeper mortgage loan if the borrower has a tenure payment plan.

81

  • applied to increase the borrower’s net line of credit.

82

  • applied to increase the repair set-aside account.

83

  • applied to increase the T&I set-aside account.

84

  • applied to increase the first year’s property charges set-aside account.

 

Unscheduled Payment Transactions

The servicer must report any unscheduled payments it makes to the borrower or to another party on the borrower’s behalf. The servicer must also provide the following additional information to Fannie Mae:

  • the amount of the unscheduled payment,
  • the eBoutique action code that is associated with the transaction, and
  • the effective date of the unscheduled payment.

An unscheduled payment will increase the borrower’s mortgage loan balance (and decrease the borrower’s net principal limit). The servicer must select from the eBoutique action codes described in the following table to instruct Fannie Mae about the purpose of the unscheduled payment.

eBoutique Action Code…

Is used to indicate that the unscheduled payment is related to…

41

an interim payment for repair work, which the servicer is authorized to use to reduce the repair set-aside account.

This action code cannot reduce the set-aside to zero. A different action code is used for the final payment.

42

an interim payment of the first year’s property charges, which the servicer is authorized to use to reduce the first year’s property charges set-aside account.

This action code cannot reduce the set-aside to zero. A different action code is used for the final payment.

43

taxes or insurance premiums the servicer is paying on the borrower’s behalf, which the servicer is authorized to use to reduce the T&I set-aside account.

44

a draw the borrower requested from his or her net line of credit, which the servicer is authorized to use to reduce the borrower’s credit line.

45

the final payment for repair work, which the servicer is authorized to use to reduce the repair set-aside account.

The system will apply any remaining funds to the net line of credit.

46

the final payment of the first year’s property charges, which the servicer is authorized to use to reduce the first year’s property charges set-aside account.

The system will apply any remaining funds to the net line of credit.

47

the fee for any appraisal report the borrower is required to obtain in connection with the acceleration of the debt, which the servicer is authorized to use to establish an appraisal fee set-aside account, and thus will be added to the borrower’s mortgage loan balance.

48

an advance to prevent a tax lien from being placed because the borrower failed to pay the real estate taxes for the security property, which the servicer is authorized to use to reduce the borrower’s line of credit if it includes enough funds to make the payment.

49

a fee that is charged to the borrower for processing a payment plan change request, which the servicer is authorized to use to reduce the borrower’s line of credit.

 

The servicer must select from the eBoutique action codes described in the following table to instruct Fannie Mae about the purpose of the unscheduled payment used for servicer reimbursements.

eBoutique Action Code…

Is used to reimburse the servicer for an unscheduled payment that relates to a fee that is charged to the borrower for processing…

90

unscheduled taxes, which the servicer is authorized to use to reduce the borrower’s line of credit.

91

unscheduled insurance, which the servicer is authorized to use to reduce the borrower’s line of credit.

92

an unscheduled inspection, which the servicer is authorized to use to reduce the borrower’s line of credit.

93

an unscheduled appraisal, which the servicer is authorized to use to reduce the borrower’s line of credit.

94

unscheduled property preservation, which the servicer is authorized to use to reduce the borrower’s line of credit.

 

Mortgage Loan Status Maintenance Transactions

The servicer must report mortgage loan status maintenance transactions to Fannie Mae as they occur. Mortgage loan status maintenance transactions relate to the

  • suspension or resumption of the borrower’s scheduled payments,
  • initiation of bankruptcy or other litigation,
  • referrals to a law firm for foreclosure action or acceptance of a deed-in-lieu,
  • referrals to HUD for a determination of whether to accelerate the debt,
  • issuance of a demand for repayment, or
  • liquidation of the mortgage loan.

When reporting a mortgage loan status maintenance transaction, the servicer must report one of the eBoutique action codes described in the following table to provide a more detailed explanation of the exact status of the mortgage loan. The servicer may report different action codes eBoutique for the mortgage loan from time to time.

eBoutique Action Code…

Is used to notify Fannie Mae that the…

01

borrower has requested suspension of his or her scheduled payments for a period of time and that Fannie Mae should cease its automatic disbursement of these payments as of the effective date the servicer specifies.

02

borrower has requested the resumption of previously suspended scheduled payments and that Fannie Mae should once again begin its automatic disbursement of these payments as of the effective date the servicer specifies.

This code can also be used to notify Fannie Mae that it can once again make any scheduled payments to a borrower that it had suspended when the demand for repayment was issued, because the borrower has cured his or her default.

11

mortgage loan has been referred to foreclosure due to the borrower’s death.

12

mortgage loan has been referred to foreclosure due to the borrower’s non-occupancy of the property.

13

mortgage loan has been referred to foreclosure due to unpaid T&I.

14

mortgage loan has been referred to foreclosure due to other reasons.

15

borrower declared bankruptcy or that other litigation involving the borrower or the security property was initiated on the date the servicer specifies.

50

Home Keeper mortgage loan has been accelerated or a HECM loan was referred to HUD for a decision to accelerate the debt, as the result of any default other than the nonpayment of T&I on the date the servicer specifies.

51

Home Keeper mortgage loan has been accelerated or a HECM loan was referred to HUD for a decision to accelerate the debt as the result of the borrower’s failure to make T&I payments on the date the servicer specifies.

52

HECM loan was referred to HUD for a decision to accelerate the debt as the result of other reasons on the date the servicer specifies.

53

HECM loan was referred to HUD for a decision to accelerate the debt; however, the servicer is setting up a repayment plan to clear the default.

55

Loan was called due and payable. Payment was issued for a Home Keeper mortgage loan or that a Repayment Notice was issued for a HECM loan on the date the servicer specifies.

56

HECM loan was referred to HUD for a decision to accelerate the debt as result of borrower’s non-occupancy of the property on the date the servicer specifies.

57

HECM loan was referred to HUD for a decision to accelerate the debt as the result of borrower’s non-payment of T&I on the date the servicer specifies.

NOTE: If the servicer subsequently enters into a repayment plan that meets HUD guidelines, then action code 53 (repayment plan) should be reported to eBoutique.

 

58

HECM loan was referred to HUD for a decision to accelerate the debt as the result of other reasons on the date the servicer specifies.

70

property was acquired at a foreclosure sale or through the recording of a deed-in-lieu of foreclosure on the date the servicer specifies.

71

third party acquired the property at a foreclosure sale on the date the servicer specifies, as well as to notify Fannie Mae that a “short” payoff was finalized on the date the servicer specifies.

72

HECM loan has been liquidated and assignment to HUD has occurred on the date the servicer specifies.

 

Payoff and Repurchase Transactions

The servicer must report the borrower’s payment of the mortgage loan in full or the servicer’s repurchase of the mortgage loan from Fannie Mae on the same day it transmits the funds to Fannie Mae.

  • NOTE: Payoff proceeds cannot be processed after the 2:00 p.m. (eastern) system cutoff time on the last day of the month; therefore, Fannie Mae will process any payoff proceeds received after the cutoff on that day as a “prior-period” adjustment in the following month.

The servicer must provide the following additional information to Fannie Mae:

  • the amount received from the borrower for a payoff transaction,
  • the amount of repurchase proceeds that will be drafted from the servicer’s custodial account,
  • the reason for a payoff, and
  • the effective date of the payoff or repurchase.

The borrower’s payment in full of the debt will set both the borrower’s mortgage loan balance and net principal limit to zero.

The servicer must select from the eBoutique action codes described in the following table to describe a mortgage loan payoff or repurchase.

eBoutique Action Code…

Is used to indicate that the…

31

mortgage loan was paid off on the effective date the servicer specifies as the result of the borrower’s death.

32

mortgage loan was paid off on the effective date the servicer specifies as the result of the borrower’s move to a different residence.

33

mortgage loan was paid off on the effective date the servicer specifies and that the borrower will continue to reside in the property.

34

mortgage loan was paid off on the effective date the servicer specifies for any other reason for termination.

35

mortgage loan was paid off on the effective date the servicer specifies, but the servicer is not aware of the reason for the payoff.

65

servicer is repurchasing the mortgage loan from Fannie Mae as of the effective date the servicer specifies.

66

mortgage loan has been refinanced as of the effective date the servicer specifies.

 

6-01-04, Servicing Transfer Transactions (05/28/2014)

Once a transfer of servicing for some or all of the servicer’s reverse mortgage loans is approved by Fannie Mae, the servicer must notify Fannie Mae to transfer the mortgage loans from the transferor to the transferee servicer in eBoutique. This notification can relate to all of the servicer’s reverse mortgage loans, all of the servicer’s Home Keeper mortgage loans, all of the servicer’s HECM loans, or selected reverse mortgage loans of either type.

The servicer’s notification (which is the file format) for a servicing transfer transaction must include the following, which can be found within eBoutique under the “help” option:

  • Transaction designator – 05 (which identifies the transaction as Servicer Transfer).
  • The nine-digit Fannie Mae transferor and transferee servicer numbers.
  • Transfer option (which identifies the mortgage loans to be transferred). 1=All, 2=All HECM, 3=All Home Keeper (HKM), or 4=Specific Loan.
  • Fannie Mae loan number (for each loan to be transferred if transfer option).
  • Effective date of the servicing transfer. (YYYYMMDD).
  • Delete loan indicator.

6-01-05, Trial Balance Transactions (04/11/2018)

The servicer is required to complete and submit its trial balance transaction files to Fannie Mae via eBoutique by the sixth calendar day of each month. eBoutique will perform a reconciliation of mortgage loan balance record differences in the trial balance transaction file and produce two reports:

  • Report 28 – Trial Balance Reconciliation Exception, and
  • Report 29 – Trial Balance UPB Compare.

The trial balance comparison transaction must identify

  • the servicer’s nine-digit Fannie Mae seller/servicer identification number,
  • the subservicer’s nine-digit Fannie Mae seller/servicer identification number (if applicable),
  • the Fannie Mae mortgage loan number of each mortgage loan, and
  • the reporting period (or effective date) of the trial balance.

For each mortgage loan identified on the trial balance, the following information must be provided:

  • type of payment plan,
  • mortgage loan balance,
  • current interest rate,
  • net principal limit,
  • line of credit reserve (if applicable),
  • net line of credit (if applicable),
  • first year property charge set-aside (if applicable),
  • T&I set-aside (if applicable),
  • repair set-aside (if applicable),
  • servicing fee set-aside,
  • scheduled payment (if applicable),
  • indicator (C = Complete or P = Partial), and
  • tolerance level.

After the servicer submits its trial balance transaction, the system will perform reconciliation and respond with the results. The results will be displayed on Report 28 – Trial Balance Reconciliation Exception. The following table describes results of the eBoutique analysis.

If…

Then…

there are no differences between Fannie Mae’s records and the information the servicer submitted,

the following message will appear: “Of the loan attributes entered, none were found to differ.”

there are differences between Fannie Mae’s records and the information the servicer submitted,

the reconciliation report will show the difference between the data the servicer showed in its trial balance and that in Fannie Mae’s database, identifying the individual components that need to be reconciled.

In addition, the servicer must reconcile the mortgage loan balances under a separate report, Report 29 – Trial Balance UPB Compare. The servicer is also required to provide additional data fields for mortgage loans with balance differences on this report. To facilitate this, two new reports—the Reverse Mortgage Detail Report and the Reverse Mortgage Summary Report—have been created and must be completed by the servicer. These new reports, along with the Reverse Mortgage Reports Category Definitions, a defined list of fields used in the reports, are available on eBoutique on Fannie Mae’s website. The servicer must e-mail the completed encrypted reports by the 20th calendar day of the month to its Reverse Mortgage Loan Servicing Representative (see 7-03, List of Contacts).

This topic contains information on the following:

Reconciliation Requirements

Any mortgage loan identified and reported with a balance difference greater than $250 must be reconciled within 90 days from the date the difference was identified and reported. Fannie Mae may issue repurchase letters for mortgage loans that remain unreconciled at the expiration of the 90-day resolution period.

The servicer must, on a monthly basis, reconcile the month-end mortgage loan status from its servicing system of record to the mortgage loan status reported on the Data Extract Download Report (Report 35), and immediately correct any discrepancies between the two systems.

The servicer must submit a copy of the report indicating the mortgage loan status from its system of record, along with any discrepancies, to Fannie Mae by the 7th business day of each month.

Assessments for Non-Compliance with Reporting

If a servicer fails to comply with any of the above reporting requirements, or if an incomplete report is received, the following fees may be assessed:

  • $500 for the first occurrence in a 12-month period.
  • $750 for the second occurrence in a 12-month period.
  • $1,000 for the third occurrence in a 12-month period.
  • A fourth occurrence in a 12-month period may result in a transfer of servicing by Fannie Mae.

6-02, eBoutique Reports

6-02-01, Fannie Mae-Generated Reports (05/28/2014)

This topic contains information on the following:

  • Daily Disbursement Reconciliation Reports
  • Monthly Reports

A servicer of reverse mortgage loans must have servicing systems in place that enable it to track reverse mortgage loan activity and report that activity to Fannie Mae each month. Fannie Mae expects the servicer to reconcile its records to the reports Fannie Mae provides each month; therefore, at a minimum, the servicer’s system must be able to track

  • mortgage loan balances,
  • disbursements to borrowers,
  • servicing fee payments,
  • interest accruals, and
  • line of credit activity.

eBoutique produces a number of reports to assist a servicer in tracking its mortgage loan activity and reconciling its records to Fannie Mae’s. On a daily basis, a servicer is able to obtain a cash report that it can use to reconcile its custodial accounts. Then, on the morning after Fannie Mae’s month-end processing is completed, the servicer can obtain a series of reports that summarize the status of the servicer’s reverse mortgage loan portfolio.

This topic contains information on the following:

Daily Disbursement Reconciliation Reports

The Disbursement Reconciliation Reports show disbursements of scheduled payments, unscheduled payments, partial prepayments/payoffs, servicing fees, and mortgage insurance premiums, as well as adjustments to additional scheduled payments. It is available after the ACH process is completed each day. This enables the servicer to view the ACH activity Fannie Mae disbursed and use it in reconciling bank statements.

Monthly Reports

A number of reports are available to the servicer on a scheduled basis each month, generally immediately following the completion of Fannie Mae’s month-end processing. The following table describes some of the reports that are available.

Report Name

Description

Monthly Disbursement Reconciliation Reports

These reports summarize the disbursements of scheduled payments, unscheduled payments, servicing fees, mortgage insurance premiums, total reimbursements, partial prepayments/payoffs, and adjustments to additional scheduled payments that appear on all of the daily Disbursement Reconciliation Reports.

Net Principal Limit (Report 3) and Line of Credit Report (Report 4)

These reports show all monthly activity that affects the net principal limit or line of credit balances for all of the reverse mortgage loans in the servicer’s portfolio. The servicer may also request this report for specific mortgage loans or for a specific date range only by contacting Fannie Mae’s SF Ops Master Servicing (see 7-03, List of Contacts).

Loan Adjustment Report (Report 5)

This report shows all of the adjustments and reversals for the required reporting period. The report is generated if adjustments to the servicer’s monthly activities have been processed.

Portfolio Loan Balance Report (Report 6 and Report 7)

This report, which is available in a detailed or summary format, shows mortgage loan-level detail for all of the components of the mortgage loan balances for the servicer’s reverse mortgage loan portfolio for any given month, any action codes that affected the balances in that month, the beginning mortgage loan balance, any activities made during the reporting period, and the ending balance. The servicer should use this report for detail to review the beginning balance, interest on the beginning balance, mortgage insurance premiums on beginning balance, scheduled payment, interest on scheduled payment, mortgage insurance premiums on scheduled payment, unscheduled payment(s), interest on unscheduled payments, mortgage insurance premiums on unscheduled payment, partial prepayment, interest on partial prepayment, mortgage insurance premiums on partial prepayment, service fee, interest on adjustment to mortgage loan balance, mortgage insurance premiums on adjustment to mortgage loan balance, and ending balance.

The servicer should use the Loan Balance Report Summary to review the activities posted for each mortgage loan during the month and to identify those for which the servicer’s and Fannie Mae’s records have ending balance deficiencies. The servicer must perform this reconciliation each month and research (and resolve) the identified discrepancies in a timely manner. Specifically, the servicer should compare the data for these mortgage loan-level components—mortgage loan interest rate; beginning balance; adjustments made during the reporting period; amount of unscheduled payments; a prepayment, payoff, or repurchase credited to the account; amount of scheduled payment; interest accrued prior to purchase; amount of mortgage insurance premium (for a HECM loan only); interest accrued during the reporting period; servicing fee; and ending balance—as well as the total portfolio mortgage loan count.

Servicer Portfolio Summary Report (Report 19)

This report shows the beginning balance, mortgage loan count, mortgage loans added, mortgage loans removed, monthly activity, ending balances, and other statistics for the servicer’s reverse mortgage loan portfolio.

Reconciliation Exception Report (Report 28)

This report shows the differences in mortgage loan balances that are identified by the monthly comparison between the trial balance the servicer submits and the balances in Fannie Mae’s database. Only those mortgage loans that have a component that needs to be reconciled are included in the report.

Reverse Mortgage Rate Changes Report (Report 8)

This report shows the new interest rate calculation for all mortgage loans that have scheduled interest rate changes in the next reporting period. This report is available to the servicer on the second business day of each month. If the servicer disagrees with Fannie Mae’s calculated rates, it should use this report as a turnaround document, making appropriate changes and transmitting it to Fannie Mae on the next business day after the servicer obtained the report.

Reverse Mortgage Rate Changes Report – Newly Purchased Loans (Report 8B)

This report shows the new interest rate calculation for all mortgage loans that have scheduled interest rate changes in the next reporting period. The report for newly purchased mortgage loans is generated on the last business day at the end of the month-end process and will be available starting the subsequent first business day.

Early Warning Report (Report 21)

This report identifies problems or items that may need attention before they are updated. This report will display all mortgage loans that have one of the following:

  • UPB equal to or greater than 95% of the maximum claim amount,
  • net principal limit equal to or less than zero, or
  • line of credit balance less than or equal to $50.00.

First Year Property Charge Rollover Report (Report 20)

This report lists the mortgage loans that will reach their one-year anniversary in the following reporting month, and still have a balance in their First Year Property Charge Set-aside.

Servicing Transactions Upload Report (Report 26)

This report displays the status transactions submitted daily through the upload process on the Servicing Transactions file upload format.

Servicing Transfer Data Log Report (Report 27)

This report displays the status of the transaction submitted, through the upload process, as part of a servicing transfer request.

Trial Balance UPB Compare Report (Report 29)

This report lists all mortgage loans by servicer number that were found to be out of balance during a specific reporting period in the Trial Balance Reconciliation Exception Report for the Loan Balance amount.

Trial Balance Upload Report (Report 31)

This report lists the rejected mortgage loans that are submitted through the upload process in the Trial Balance File.

Monthly Servicer Data Extract Download Report (Report 35)

This extract is a file of all mortgage loans belonging to each servicer.

Scheduled Payment Rejection Report (Report 39)

This report lists all scheduled payments that were rejected for exceeding the maximum claim amount.

 

To see other Chapters of the Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual, please click on any of the chapters below:

Chapter 1, Reverse Mortgage Loan Products

Chapter 2, Doing Reverse Mortgage Loan Business with Fannie Mae

Chapter 3: General Servicing Requirements

Chapter 4: Assisting Borrowers At Risk of Default or In Default

Chapter 5: Processing Claims and Managing Acquired Properties

Chapter 7: Quick Reference Materials

 

 

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