FANNIE MAE April 14 Servicing News: Announcement SVC-2016-03 and Lender Letters LL-2016-01 & LL-2016-02

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FANNIE MAE April 14 Servicing News: Announcement SVC-2016-03 and Lender Letters LL-2016-01 & LL-2016-02

FANNIE MAE April 14 Servicing News: Announcement SVC-2016-03 and Lender Letters LL-2016-01 & LL-2016-02

IN THIS ISSUE:

Announcement SVC-2016-03: Servicing Guide Updates
Lender Letter LL-2016-01: Advance Notice of Additional Changes to Future Investor Reporting Requirements
Lender Letter LL-2016-02: Fannie Mae Principal Reduction Modification
Join Us, Become a Fannie Mae Seller/Servicer
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Announcement SVC-2016-03: Servicing Guide Updates

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:

Visit Fannie Mae’s HFI InDepth page today to see the full calendar of classes and to register!

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