C-4.3-01: Servicer Responsibilities Related to Investor Reporting (01/18/2017)
© Fannie Mae Single Family Servicing Guide
The following table outlines the servicer responsibilities related to reporting to Fannie Mae.
✓ | The servicer must... | |
Use an automated format to report all loan-level transactions on its entire mortgage loan portfolio using Fannie Mae’s investor reporting system. | ||
Ensure the transactions are reported in sufficient time for Fannie Mae to receive the notifications based on the following table. | ||
If the transaction is... | Then the servicer must report... | |
a removal transaction (payoff, repurchase or foreclosure action) | ·      by 5 p.m. eastern time on the next business day if the servicer processes the transaction in its system on the first business day of the month. ·      by 8 p.m. eastern time on the next business day if the servicer does not process the transaction in its system on the first business day of the month. ·      corrections to reporting errors for removal transactions by 5 p.m. eastern time on the second business day of the month following the reporting period. | |
not a removal transaction | ·      on all mortgage loans by 8 p.m. eastern time on the 22nd calendar day of the month of the reporting period. If the 22nd calendar day falls on a weekend or holiday, then the servicer must report the mortgage loan activity by 8 p.m. eastern time on the preceding business day. ·      corrections to reported activity and any subsequent activity that occurred from the 22nd calendar day and until the end of the reporting period by 8 p.m. eastern time on the first business day of the month following the reporting period. | |
Reconcile the investor reporting system reports it receives from Fannie Mae to its internal records and make available to Fannie Mae upon request. | ||
Perform a thorough review and correct all transactional errors and data discrepancies, if applicable. |
The servicer must see Fannie Mae’s Investor Reporting Manual for additional reporting instructions, an explanation of proper reporting codes, and for the correct use of formulas and calculations.