Fannie Mae: A New Investor Reporting Process is Now in Effect
Investor Update
February 1, 2017
A new investor reporting process is now in effect!
February 1 is here! Servicers must report loan activity according to the new investor reporting policy requirements for borrower activity occurring on or after February 1 (see the Release Notes for details). Now through March 31, the post-delivery Servicing Transfer Moratorium is in effect for all post-delivery transactions that result in a change to the Fannie Mae seller/servicer number. Live webinars run through February – register today and take advantage of helpful resources on the Changes to Investor Reporting page.
Impacts to HSSN and SMDU February 10 – 13
Due to the changes to investor reporting during the weekend of February 10, Fannie Mae recommends delaying case creation and closing from Friday, February 10, at 7:30 p.m. to Monday, February 13 at 4 a.m. ET, to avoid exceptions as information between our systems may not be synchronized. This recommendation is intended for those who use Servicing Management Default Underwriter™ (SMDU™) Case Management functionality to create HomeSaver Solutions™ Network (HSSN) cases, as well as those creating cases directly on HSSN. Note that XML bulk file submissions for HSSN submitted during this timeframe will be held and processed on Monday, February 13. SMDU Auto Decision is not impacted; SMDU will remain available per the usual availability schedule.
New servicing buyer coming to Servicing Execution Tool
We are pleased to announce a new servicing buyer has joined the Servicing Execution Tool™ (SET), available in Pricing & Execution – Whole Loan® (PE – Whole Loan). Lakeview Loan Servicing, LLC became active in SET on February 1, giving SET registered sellers another servicing partner option for their servicing-released commitments in PE – Whole Loan. To learn more about SET, visit the SET webpage for servicers or contact your account team.
Updated investor reporting and servicing training
Visit the General Servicing and Investor Reporting tabs on the Servicing Training page for updated learning products that address changes to investor reporting requirements, and support the release of Fannie Mae Connect™.
Explore the following updated resources:
- New Servicers Toolkit
- Form 512 (Reconciliation of Mortgage Portfolio – S/S MBS & MRS)
- Investor Reporting Reconciliation Job Aids
- Instructions for Completing Schedules 1-3 Job Aids
- Detailed Reporting Trial Balance Job Aid
- Cash Remittance System User Guide
- Introduction to Investor Accounting eLearning Course
Train for success
Access our online training resources when you need it 24/7 from the Training Page. Do you have suggestions for training topics? Email us.
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Source: Fannie Mae
Additional Resource:
Fannie Mae (Updated 2017 Investor Reporting and Remitting Calendar)