Fannie Mae: Principal Reduction Modifications and Servicer Forums on Fannie Mae Changes to Investor Reporting
November 2, 2016
Principal reduction modifications
Servicers are reminded, as they complete their principal reduction modifications, to reference the eligible campaign codes listed on page 10 of the Principal Reduction job aid. The campaign codes listed, in addition to the campaigns codes specific to the principal reduction program, are the only campaign codes eligible for Principal Reduction – Case Two submissions.
Also, further clarification is provided within questions 6 and 10 of the Principal Reduction FAQ document for obtaining Fannie Mae approval. If Fannie Mae approval specifies a campaign code which is not referenced in the job aid or the three principal reduction campaign codes, the modification case is not eligible for principal reduction and the opt-out letter must not be sent to the borrower.
If you have any questions, please contact your Servicing Consultant, Portfolio Manager, or Fannie Mae’s Single-Family Servicing Servicer Support Center at 1-800-2FANNIE (1-800-232-6643).
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November All-Servicer Forums: Fannie Mae Changes to Investor Reporting
Please plan to attend one of our upcoming Fannie Mae Changes to Investor Reporting-All Servicer Forums.
Who should attend?
Every servicer who does business with us. To accommodate your busy schedule, we are offering three forums this month. Register today via one of the links on our web page, as space is limited. Be sure to forward this invitation to others in your organization who would also benefit from these forums.
Operational Readiness & Acknowledgment Form
Have you seen the new Operational Readiness & Acknowledgment Form? You can use this form to confirm your readiness for the Fannie Mae Changes to Investor Reporting (FCIR) being implemented February 1, 2017, in several phases of readiness (analysis, testing, etc.). Fannie Mae servicers should review this Acknowledgment Form, sign and return it by December 1, 2016 via email: firstname.lastname@example.org.
Visit the Fannie Mae Changes to Investor Reporting web page to register for a forum and receive the latest information and resources. Questions? Contact your Servicer Integration Lead or email email@example.com.
Our phones are ringing, even after midnight
Since September, our Technology Support Center is available 24 hours a day, seven days a week. We never stop servicing our customers and are committed to offering exceptional around-the-clock service. Visit our Technology Application Support page, or call us 24×7 at 1-800-2FANNIE (excludes major holidays) for questions related to our technology solutions, registration, and more.
One HFI InDepth class remaining for 2016
Do you have new hires or other employees who need to complete development goals by the end of the year? There is one more HFI™ Investor Reporting-related session left in 2016 and it’s not too late to register!
Fannie Mae’s Housing Finance Institute® series, HFI InDepth, offers training in custodial accounting and reconciling actual/actual loans. If you’re involved with investor reporting for your company, register for the last HFI InDepth class for 2016 today:
You’ll learn tips for reporting on your loans and have access to an expert instructor to answer your questions.
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, and
- a certificate of completion.
Course details and class schedules are available on the Fannie Mae Training page. Sign up today!
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Source: Fannie Mae