Fannie Mae is Issuing New Requirements for Investor Reporting

Fannie Mae is Issuing New Requirements for Investor Reporting

The New Fannie Mae Requirements are as follows:
Provide active loan reporting multiple times per month, either upon activity, or twice a month on the 22nd and at end of month. Some reporting on the 22nd is required either way. When 22nd falls on a holiday or weekend reporting must be on the previous business day. End of month reporting is on the first business day.
  1. Daily - report every loan that makes a payment or has a reversal processed, plus an extra report of the loans that did not make payments on the 22nd.
  2. 2x month - "Regular" cutoff on the 22nd and second cutoff on month end for all loans that made payments from the 22nd to the end of the month
  3. Mid-month cutoff + daily - "Regular" cutoff on the 22nd, then report payments daily to the end of the month. (Not supported.)
Reporting on the 22nd may reflect activity as of the close of the previous business day. 
Provide next day reporting of all liquidations regardless of whether option one or option two is selected for reporting active loans.
Provide inclusion in previous month's cutoff for S/S liquidations received on the first business day of the month.  
Eliminate pool reporting to Fannie Mae, including call-in reporting and all pool level reconciliation.
 
Servicing Director will not support the 3rd option to report on the 22nd, and then daily until the end of the month even though Fannie Mae allows this reporting option.

Environment:

Servicing Director

ArticleNumber:

000055118

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