Fannie Mae Servicing Guide F-1-23 — Reporting to Third Parties
Fannie Mae Servicing Guide F-1-23 — Reporting to Third Parties.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Servicing Guide F-1-23 — Reporting to Third Parties — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Servicing Guide F-1-23 — Reporting to Third Parties
F-1-23, Reporting to Third Parties (06/09/2021) Introduction This Servicing Guide Procedure contains the following: Reporting to Credit Repositories Reporting to the IRS Reporting to Credit Repositories Establishing a Relationship with a Credit Repository When initially establishing a relationship with a credit repository, the servicer must indicate the relationship is being established in compliance with Fannie Mae’s requirements. The following table provides a list of major credit repositories in accordance with C-4.1-01, Notifying Credit Repositories. Credit Repositories Equifax Information Services Experian Innovis Data Solutions TransUnion Corporation Reporting to the IRS Filing an IRS Form 1099-A or 1099–C The servicer must file IRS Forms 1099-A and 1099-C electronically on Fannie Mae's behalf, in accordance with C-4.2-01, Filing IRS Forms. The following table describes the servicer’s additional responsibilities for filing these information returns with the IRS on Fannie Mae's behalf. ✓ The servicer must... Insert the following header information when filing IRS Form 1099: • Fannie Mae's name on the first “Lender” line, followed by the servicer address and contact information, • Fannie Mae's Taxpayer Identification Number (TIN) (52-0883107) in the "Lender's TIN" field, and • the servicer loan number in the "account number" field. Insert the following header information when filing IRS Form 1099-C: • Fannie Mae’s name on the first “Creditor” line, followed by the servicer address and contact information, • Fannie Mae’s TIN (52-0883107) in the “Credit’s TIN” field; and • the servicer loan number in the “account number” field. ✓ The servicer must... Submit a Summary of IRS Form 1099–A and 1099–C Filing (Form 1100) to notify Fannie Mae that it reported to the IRS electronically.
Operationalizing Fannie Mae Servicing Guide F-1-23 — Reporting to Third Parties
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Source of record: https://claudeforcompliance.com/regs/fnma-svc-f-1-23/
· register fnma-svc-f-1-23 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.