Freddie Mac issued Bulletin 2017-04 (Bulletin), issuing requirements with respect to the new Investor Reporting Change Initiative (Initiative) announced in Bulletin 2016-15. The Bulletin provides detailed requirements with respect to: accounting cycle and investor reporting; the remittance cycle, type and method; accounting reporting methods; calculating the amount of mortgage interest owed to Freddie Mac; and subsequent transfers of servicing. The Bulletin also announces revised requirements with respect to: reporting the inactivation of a mortgage; reporting the full reinstatement of a mortgage; the acceptance of partial payments for a partial reinstatement of a mortgage (currently not allowed); and Freddie Mac’s processing and settling of loan modifications. In addition, the Bulletin: announces the availability of new reports and a new data file in the Service Loans application (beginning May 1, 2019); provides updates to the glossary; sets forth requirements and guidance for transitioning to the Initiative; and extends the implementation date of the Initiative to May 1, 2019 (rather than October, 2018).
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
