Fannie Mae Update Regarding Removal of Loans From Certain Mortgage-Backed Securities (MBS) Pools
Due to a Fannie Mae system error, a small subset of mortgage loans was removed from certain Fannie Mae MBS pools as indicated in the unpaid principal balance (UPB) factors released in April 2017. Fifty-eight pools experienced loan removals that equated to approximately 5% or more of the total UPB for the pool, resulting in approximately $130 million in UPB in pay downs.
Investors who believe they have been impacted by the removal of the loans may submit a claim to Fannie Mae. Please contact Fannie Mae’s Investor Help Line at 1-800-232-6643, Option 2 or by e-mail in order to discuss next steps related to the claims process.
Fannie Mae has updated the list of pools impacted by this system issue and has provided it in its April 11, 2017 announcement.