14 Jun Fannie Mae: SVC-2021-03: Servicing Guide Updates
June 9, 2021
Source: Fannie Mae
The Servicing Guide has been updated to include changes to the following:
▪ Verification of borrower’s income and assets*: provides an alternative means of verifying borrower income and asset
information through the use of third-party vendors.
▪ Post-forbearance disaster payment deferral: clarifies when the borrower must make their full monthly contractual
payment during the month of solicitation for a disaster payment deferral.
▪ Loss mitigation valuations*: streamlines method to obtain loss mitigation valuation information into a single platform.
▪ IRS reporting: updates our requirements for filing IRS forms.
▪ Miscellaneous updates:
o notifies servicers of updates to the Fannie Mae Software Subscription Agreement Master Terms and Conditions, and
o clarifies verbiage related to hazard loss disbursements.
*Policy change not applicable to reverse mortgage loans.
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