Fannie Mae issued Servicing Guide Announcement SVC-2022-06 (Announcement), updating fair lending data requirements. Per the Announcement, Fannie Mae added a requirement for servicers to maintain the following fair lending data elements in a queryable format for each mortgage loan, if obtained during the origination process: race of borrower(s); ethnicity of borrower(s); age of borrower(s); gender of borrower(s); and preferred language of borrower(s). In the event of a post-delivery servicing transfer, the transferor servicer must deliver to the transferee servicer the fair lending data elements in a queryable format for each mortgage loan, if obtained during the origination process. In addition, Fannie Mae announced the Lender Record Information form (Form 582) will be updated May 2023 to require that servicers certify compliance with the fair lending data elements policies with each required submission. The new fair lending data element requirements are effective for mortgage loans originated on or after March 1, 2023 (servicers are, however, encouraged to implement the changes immediately).
Click to view the Fannie Mae Servicing Guide Announcement SVC-2022-06: https://www.tenaco.com/wp-content/uploads/2022/08/Fannie-Mae-Servicing-Guide-Announcement-SVC-2022-06-08-10-22.pdf
