Fannie Mae issued Servicing Guide Announcement SVC-2017-02 (Announcement), setting forth updates to the Servicing Guide. As outlined in the Announcement, the Servicing Guide has been updated to include changes related to the use of IRS Form 4506-T or 4506T-EZ for workout options, the maintenance of seller/servicer eligibility status, and confidentiality of information and data breaches. In addition, certain servicing requirements for acquired properties and transaction type 80 reporting requirements have been eliminated from the Servicing Guide. The Servicing Guide updates generally went into effect February 15, 2017. However, the eliminated transaction type 80 reporting requirements and the amended confidentiality of information and data breach requirements are effective April 1, 2017 (although sellers/servicers may implement the changes immediately). The eliminated servicing requirements for acquired properties are effective immediately for all mortgage loans with a foreclosure sale date or mortgage release date occurring on or after April 1, 2017.
Click here to view the Fannie Mae Servicing Guide Announcement
