When Should the Servicing Director Fannie Mae New Defaults Upd Event be Scheduled to Run

When Should the Servicing Director Fannie Mae New Defaults Upd Event be Scheduled to Run

When should the event be scheduled to run?
The Fannie Mae New Defaults Upd event is one of the steps involved in the process of reporting delinquencies to Fannie Mae. The Fannie Mae New Defaults Upd event automatically adds default records for Fannie Mae loans that are more than 30 days past due. You can then update these default records with other necessary information for Fannie Mae reporting, such as the default reason and delinquency status.

Environment:

Fannie Mae New Defaults Upd Event

Workaround:

The Fannie Mae New Defaults Upd event is dependent on the fact that, at the time of running, the application's Last date (Company.LastPriorTransPostDate) is in the prior month. This event should be scheduled to run on the last day of the month.

ArticleNumber:

000063546