Fannie Mae Single-Family Servicing News: Announcement SVC-2016-03 and Lender Letters LL-2016-01 & LL-2016-02
April 14, 2016
This Announcement communicates the following updates made to the Servicing Guide:
- Updates to Selling/Servicing Requirements for Texas 50(a)(6) Mortgage Loans
- Updates to Loan Level Price Adjustment Refunds
- Updates to California Publication Requirements
Lender Letter LL-2016-01: Advance Notice of Additional Changes to Future Investor Reporting Requirements
This Lender Letter provides advance notice to the servicer of future changes to Fannie Mae investor reporting requirements.
Lender Letter LL-2016-02: Fannie Mae Principal Reduction Modification
This Lender Letter introduces a new mortgage loan modification program, the Fannie Mae Principal Reduction Modification, at the direction of FHFA and in collaboration with Freddie Mac. Details of this program are included in this Lender Letter.
In addition to LL-2016-02, Fannie Mae is also publishing a list of Servicer FAQ’s related to this program.
Join Us, Become a Fannie Mae Seller/Servicer
We’ve prepared a new resource to guide lenders through every step of the process to become an approved Fannie Mae seller/servicer. The recorded training tutorial Navigate the Fannie Mae Lender Approval Process, available 24/7, covers the benefits of a direct relationship with Fannie Mae and helps you understand what you can expect throughout the approval process. The course will walk you through the Fannie Mae eligibility requirements, outline the information we will need to consider your application, and give you a run-down on how your sponsor will help guide you through the process. Join us, become an approved Fannie Mae Seller/Servicer. We look forward to doing business with you!
Build New Skills with HFI InDepth
With Housing Finance Institute® (HFI™) InDepth, you’ll learn from expert instructors and get your questions answered — all in an online virtual classroom. Register today for an upcoming course:
- Bank vs. Book! Reconciling Actual/Actual Custodial Accounts |April 20, 2016
- Investor Reporting with Confidence: Best Practices for Reconciling Actual/Actual Loans | May 19, 2016
- The ABCs of Managing MBS Cash Flow for Fannie Mae | June 16, 2016
Visit Fannie Mae’s HFI InDepth page today to see the full calendar of classes and to register!
Here are the hot topics that are currently trending in our social network:
- This spring, expect higher home prices, says @realtorcom. Here’s why.
- DYK it’s Financial Literacy Month? Here’s a place your borrowers can learn about the complexities of owning a home.
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Source: Fannie Mae