Fannie Mae: Investor Reporting Webinars and Changes in LoanSphere Invoicing
February 22, 2017
New live webinars: Investor reporting hot topics and best practices
Good news: We have successfully made the transition to a new reporting environment, an important step toward implementing industry standards that will save servicers time and effort. Throughout March, we’ll host weekly live webinars to highlight and share best practices about reporting while enabling servicers to ask questions about the process. Be sure to review the Navigation Tips Checklist to stay on track with reporting compliance. Register for a webinar and learn more on the Fannie Mae Changes to Investor Reporting page.
Important changes to Valuation Costs line items in LoanSphere Invoicing
To align with recently updated valuation guidelines, we have added new Valuation Costs line items to LoanSphere Invoicing™. These new line items require servicers to include the date the valuation expense occurred on claim submissions.
Effective February 23, 2017, servicers should begin using the following new Category 18 Valuation Costs line items:
- Subcategory 903: Valuation – Appraisal
- Subcategory 904: Valuation – AVM Report
- Subcategory 905: Valuation – Broker’s Price Opinion
As of April 23, 2017, the following Category 18 Valuation Costs line items will be deactivated:
- Subcategory 4: Appraisal
- Subcategory 5: AVM Report
- Subcategory 810: Broker’s Price Opinion
For a complete list of servicer expense categories and subcategories available in LoanSphere Invoicing, refer to the Servicer Expense Reimbursement Line Items in LoanSphere Invoicing document.
In case you missed it: We’re simplifying servicing for our customers
Reminder: MBS Reporting will be retired on February 28
As part of the Fannie Mae Changes to Investor Reporting, we will retire the MBS Reporting application at 9 p.m. ET next Tuesday, February 28. You can retrieve the Principal and Interest (P&I) Draft Amount Report in Fannie Mae Connect™; the P&I Remittance Details will also be available in Fannie Mae Connect in March. To find out more about this transition, refer to the Release Notes.
Save time, reduce effort with HFI investor reporting training
Register today for our updated HFI® classes on investor reporting. You’ll learn tips for reporting on your loans, and have access to an expert instructor to answer your questions. Classes include:
- Bank vs. Book! Reconciling Actual/Actual Custodial Accounts
- Investor Reporting with Confidence: Best Practices for Reconciling Actual/Actual Loans
- The ABCs of Managing MBS Cash Flow for Fannie Mae
All HFI InDepth courses provide:
- Two hours of interactive, instructor-led training held in a virtual classroom
- Limited class sizes that maximize interaction and allow for individualized attention
- Access to recorded tutorials that prepare you with foundational knowledge prior to taking the course
- A certificate of completion
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Source: Fannie Mae