Fannie Posts HERA Reporting Requirements for Servicers
August 10, 2012
Fannie Mae will soon require all of its servicers and any subservicer or third-party originator the servicer uses to be in full compliance with the requirements of the Housing and Economic Recovery Act of 2008, the GSE announced this week. On or before Nov. 1, 2012, the servicer is required to complete a Fannie Mae supplier registration profile that accurately reflects its ownership status, regardless of whether it is HERA-Inclusive, and its team composition report, explained Fannie.