Fannie Mae: Updated CRS Remittance Codes; New eLearning Courses; and More

Investor Update
November 1, 2017

Updated remittance codes in the Cash Remittance System

As a component of Simplifying Servicing™, we've updated the Cash Remittance System (CRS) remittance codes. These updates streamline the remittance process, enable transactions to be reported under unique remittance codes, reduce the commingling of funds within a single code, and more. Visit the CRS page to view the updated CRS User Guide, which contains all updated codes, their definitions, and purposes.

Introduction to servicing -- two new modules added to help new servicers get up to speed, fast!

Have you checked out our self-paced eLearning series designed to help new servicers get up to speed quickly? Here are two new reasons: Required Forms and Access to Information and Introduction to Fannie Mae Systems are now both available on the Servicing Training page. Additional courses, coming soon, will cover bankruptcy, foreclosure, and much more.

Reminder: Deactivated LoanSphere Invoicing line items effective Nov. 1

Servicers should discontinue using deactivated line items in LoanSphere Invoicing™ per the detailed reimbursement update available on the Servicer Expense Reimbursement page.

Updated Excess Fee/Cost AAA matrices

We have updated AAA matrices for all 54 jurisdictions to include guidance regarding the Inquiry Response Tool (IRT) system, updated the motion to dismiss foreclosure language (judicial states only), discontinued the plaintiff's discovery fee (FL, IL, NJ, NY, and OH), and added a publication cost policy to both allowable and excess cost sections of the matrix. To view the updated matrices, visit the Excess Attorney Fee/Cost Guidelines page.

Join us at these upcoming events:

Nov. 5-9 | NAFCU Lending Conference | San Antonio, TX
Nov. 12-15 | CUNA Lending Council Conference | Nashville
Dec. 4-5 | MBA Summit on Diversity and Inclusion | Washington, DC

View more events.

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Source: Fannie Mae

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