source:
  type: guide
  id: fnma-svc-a2-7-03
  authority: Fannie Mae Servicing Guide A2-7-03 — Post-Delivery Servicing Transfers
  description: Fannie Mae Servicing Guide A2-7-03 — Post-Delivery Servicing Transfers.
  coverage_tier: operative
obligations:
- id: fnma-svc-a2-7-03-full
  canonical_id: fnma-svc-a2-7-03-full
  section: Fannie Mae Servicing Guide A2-7-03 — Post-Delivery Servicing Transfers
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide A2-7-03 — Post-Delivery Servicing Transfers
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
    snapshot_id: cf63a82bbb4adfba
    fetched_at: '2026-05-22T23:53:19Z'
    content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
    paragraph_quote: 'A2-7-03, Post-Delivery Servicing Transfers (05/13/2026) Introduction
      This topic contains the following: Overview of Post-Delivery Servicing Transfers
      Obligations of the Transferor and Transferee Servicers Requesting Fannie Mae
      Approval Conditions for Approval Providing Consent to the Servicing Transfer
      Servicing Transfer as a Result of the Servicer’s Termination of the Servicing
      Relationship Special Notiﬁcations to the Transferee Servicer When a Servicing
      Transfer Includes an eMortgage Servicing Fee Assumption of Warranties and Other
      Obligations Notifying Borrowers Notifying Third Parties Transfer of Individual
      Mortgage Loan Files and Portfolio Information Submission of Final Accounting
      Reports/Remittances Preparing Mortgage Loan Assignments Transfer of Custodial
      Documents Transitional Responsibilities Overview of Post-Delivery Servicing
      Transfers Subsequent to the delivery of mortgage loans to Fannie Mae, the servicer
      must obtain Fannie Mae’s prior written consent for any transfer of servicing
      responsibilities involving Fannie Mae mortgage loans and/or acquired properties,
      including transfers resulting from a change in the servicer’s corporate ownership
      or structure, and involving a subservicer, including master servicer transfers
      from one subservicer to another, from the master servicer to a subservicer,
      or from the subservicer to the master servicer. The servicer or subservicer
      must not transfer its responsibility for servicing or subservicing any mortgage
      loans and/or acquired properties unless Fannie Mae approves the transfer. See
      When Post-Delivery Transfers of Servicing Involve Subservicers in A2-1-07, Subservicing
      for additional information. Any unauthorized transfer of servicing or subservicing
      will not be recognized by Fannie Mae. An unauthorized transfer of servicing
      or subservicing may occur when the servicer or subservicer fails to give Fannie
      Mae adequate notice of a proposed transfer (as deﬁned in Requesting Fannie Mae
      Approval), obtain its written approval for a transfer, or fulﬁll any conditions
      of Fannie Mae’s approval of a given transfer of servicing. Published May 13,
      2026 110 Any unauthorized transfers of servicing may be the basis for terminating
      the contractual relationships Fannie Mae has with the transferor, transferee
      servicers, and any involved subservicer. However, instead of terminating the
      contractual relationship(s), Fannie Mae may choose to impose sanctions; impose
      compensatory fees (see A1-4.2-01, Compensatory Fees Other Than Delays in the
      Liquidation Process) for calculation of the compensatory fee for an unauthorized
      transfer of servicing); hold any transferor or transferee servicer or subservicer
      that enters into an unauthorized transfer of servicing jointly and severally
      liable for any losses incurred by Fannie Mae as the result of the unauthorized
      transfer; and/or impose other available remedies. The transferee servicer must
      indicate on the Request for Approval of Servicing or Subservicing Transfer (Form
      629) if the transferee servicer will use a subservicer as a result of the servicing
      transfer. As part of the transfer of servicing review, Fannie Mae will also
      evaluate the performance and capacity of any subservicer the transferee servicer
      intends to utilize. Fannie Mae generally will consider requests for transfers
      of either all or a portion of the mortgage loans and/or acquired properties
      that a servicer services and/or manages for it. Transfers of servicing or subservicing
      of individual mortgage loans in an MBS pool are permitted unless the transfer
      involves regular servicing option MBS mortgage loans or shared-risk special
      servicing option MBS mortgage loans for which the servicer’s shared- risk liability
      is still in eﬀect, in which case the servicing of all of the mortgage loans
      in the pool must be transferred. Fannie Mae will consider the transfer of servicing,
      including servicing involving a subservicer, for government- guaranteed mortgage
      loans only if the proposed transferee servicer is a HUD-approved coinsurer that
      is willing to assume the coinsurance obligations for the mortgage loans. Obligations
      of the Transferor and Transferee Servicers The following table provides the
      requirements of the transferor servicer prior to requesting Fannie Mae’s approval.
      ✓ The transferor servicer must... Conﬁrm that the transferee servicer is • approved
      to service all products included in the transfer, including those described
      in Special Seller/Servicer Approval and MSSC Addendum in Selling Guide A2-1-01,
      Contractual Obligations for Sellers/Servicers, • aware of its duties and obligations,
      and • agrees to assume the additional responsibilities related to the servicing
      of those mortgage loans. Provide special notiﬁcation to the transferee servicer
      of the products being transferred. Published May 13, 2026 111 The transferee
      servicer must assume all of the responsibilities, duties, and selling warranties
      that were agreed to whether made when the mortgage loan was originally sold
      to Fannie Mae or subsequent to that date. This includes responsibility for the
      performance of obligations that predate the transfer, including special servicing
      obligations. However, the transferee servicer’s assumption of these responsibilities,
      duties, and warranties will in no way release the transferor servicer from its
      contractual obligations related to the transferred mortgage loans. The two servicers
      will be jointly and severally liable to Fannie Mae for all warranties and for
      repurchase, all special obligations under agreements previously made by the
      transferor servicer or any previous seller or servicer (including actions that
      arose prior to the transfer). When a servicer transfers its contractual right
      to service some or all of its Fannie Mae single-family servicing to another
      Fannie Mae-approved servicer, any variance or waiver granted to a transferor
      servicer does not automatically transfer to the transferee servicer. In addition,
      the transferor servicer and transferee servicer must ensure that all existing
      special servicing obligations associated with the transferred mortgage loan
      are disclosed. By beginning to service the mortgage loans the transferee servicer
      agrees to assume all obligations related to the servicing of MBS pools—including
      all duties and responsibilities under the regular servicing option or a shared-risk
      special servicing option, bearing all costs and risks previously borne by the
      transferor servicer or any earlier seller or servicer, as well as any additional
      costs and risks that arise subsequent to, or as the result of conditions imposed
      on, the transfer. Fannie Mae’s consent to a transfer of servicing does not release
      either the transferor servicer or the transferee servicer from any obligation
      it would otherwise have to Fannie Mae. As of the sale date for an approved transfer
      of servicing or subservicing the transferor servicer and the transferee servicer
      acknowledge their joint and several liability with respect to the transferred
      mortgage loans (and for any special obligations outstanding as of the sale date,
      unless Fannie Mae has agreed to release one of the servicers from a speciﬁc
      responsibility). Fannie Mae may look to either the transferee servicer or transferor
      servicer for fulﬁlling any ﬁnancial or other obligations related to the warranties,
      repurchase, and special obligations. In fact, all servicers also acknowledge
      their obligation to ensure that Fannie Mae is paid directly any proceeds of
      the servicing transfer that may be required to oﬀset any claims Fannie Mae may
      have against the transferor servicer and agree to indemnify and hold Fannie
      Mae harmless against all Fannie Mae losses arising out of a failure to fully
      transfer all documents, records, and funds required by the servicing transfer
      agreement. Requesting Fannie Mae Approval When requesting approval to transfer
      servicing, the transferor or transferee servicer or subservicer must submit
      a fully completed Form 629 at least 60 days prior to the earlier of proposed
      sale or transfer date for servicing transfers, and 30 days prior to the earlier
      of proposed sale or transfer date for subservicing transfers. The transfer and
      sale dates must be included on Form 629. The transfer date refers to the date
      on which the physical transfer of the servicing or subservicing responsibilities
      from the transferor servicer or subservicer, as the case may be, to the transferee
      servicer or subservicer occurs. It may not necessarily be the same date as the
      sale date identiﬁed in a servicing transfer agreement. The sale date is the
      date on which the ownership of the servicing rights and the legal liability
      for the servicing of the Fannie Mae mortgage loans transfer from one servicer
      to another. Note: Fannie Mae may require a longer approval timeframe based on
      size and portfolio characteristics of the transfer request. The servicer should
      take this into account when submitting the request prior to the earlier of proposed
      sale or transfer dates listed above. Published May 13, 2026 112 Note: While
      Fannie Mae requires the transferring parties to identify the sale date associated
      with a servicing transfer, Fannie Mae’s approval will only be issued as to the
      transfer date. The proposed transfer date must be the ﬁrst business day of the
      month for which the transferee servicer will be responsible for reporting the
      loan-level detail activity to Fannie Mae. Forms not submitted within the above
      time frames must be resubmitted and received in time for the next scheduled
      transfer cycle. The servicer must submit Form 629 for all active mortgage loans.
      The transferor servicer must submit a separate Form 629 for acquired properties,
      REMIC, and reverse mortgage loans. The servicer must submit an eTransfer ﬁle
      for certain active mortgage loans. Form 629 submitted for a transfer of servicing
      or subservicing must contain an applicable mortgage loan-level list containing
      all items mentioned in Form 629. See F-1-11, Post-Delivery Servicing Transfers
      for additional information. Bifurcated Mortgage Loans: Once the parties have
      agreed to a servicing transfer date for an active bifurcated mortgage loan,
      the transferor servicer is authorized to provide to the responsible party or
      its designee the information it needs to meet all time-critical deadlines that
      are scheduled to take place shortly after the transfer date, such as the dates
      of scheduled mediation or litigation hearing, tax sales, foreclosure sale dates.
      Conditions for Approval The following table describes the requirements of the
      proposed transferee servicer. ✓ The proposed transferee servicer must... Be
      an approved servicer that is in good standing with Fannie Mae. Have in place
      appropriate controls and adequate procedures relating to transfers of servicing,
      including those addressing the boarding and reconciliation of mortgage loans
      to help avoid delays in actively servicing the mortgage loans or managing the
      acquired properties. Fannie Mae will also evaluate the transferee and transferor
      servicers’ and the subservicer’s performance prior to approval in the following
      areas (although it may consider additional factors if it chooses to do so):
      overall servicing or subservicing performance, including the servicing and subservicing
      of special mortgage loan products, accounting, and remitting; capacity to service
      or subservice the mortgage loans and/or acquired properties that are to be included
      in the proposed transfer; Published May 13, 2026 113 characteristics of the
      transferor servicer’s retained servicing portfolio; overall performance of other
      contractual duties and obligations; delinquency ratios; foreclosure and acquired
      property activity; status of unresolved issues related to demands for a repurchase
      servicing remedy, claim denials or curtailments, compensatory fees, indemniﬁcation
      claims, or other outstanding claims; and ﬁnancial condition. The transferor
      and/or transferee servicer(s) must provide additional information upon Fannie
      Mae’s request during the review process. Fannie Mae’s contractual requirements
      related to transfers of servicing and the servicers’ obligations to perform
      under them apply in all cases (unless Fannie Mae expressly waives them in writing).
      Fannie Mae encourages a servicer that is contemplating the purchase of another
      servicer’s portfolio to contact its Fannie Mae Servicing Representative (see
      F-4-02, List of Contacts) early in the negotiation process. This will ensure
      that the servicer is aware of any objections Fannie Mae might have to its becoming
      a transferee servicer or subservicer for the servicing portfolio it is considering
      purchasing, can determine whether the proposed transfer involves unusual circumstances
      or conditions that might require additional time for Fannie Mae to review, and
      ascertain whether the proposed transfer has terms that might not be readily
      acceptable to Fannie Mae. Fannie Mae will make no representations or warranties
      about the value, condition, or any other aspects of the mortgage loans, servicing
      rights, and/or acquired properties for which servicing is to be transferred.
      Because the transferee servicer will be liable to Fannie Mae for all obligations
      of the transferor servicer, Fannie Mae expects that the transferee servicer
      will perform a due diligence review of the servicing portfolio that it is acquiring.
      However, the transferee servicer’s obligations to Fannie Mae are not contingent
      on the performance of such a due diligence review. To assist the servicer in
      processing and reconciling the transfer of servicing, Fannie Mae has designed
      a series of reports that should signiﬁcantly reduce the likelihood of errors
      or delays in the transfer process. The information in these reports can be used
      to reconcile and correct loan-level information related to the mortgage loans
      for which servicing is to be transferred. Any information in the reports Fannie
      Mae provides will be compiled from data in its records (including information
      it received from third parties, but did not independently verify). However,
      Fannie Mae does not attest to the accuracy, completeness, or suitability of
      the information for the servicers’ use for any particular purpose(s). For any
      given transfer of servicing, Fannie Mae uses appropriate business practices
      to permit the transferor servicer and the transferee servicer and subservicer
      (but no other parties) to have access to the data on which the reports are based.
      Fannie Mae does not represent or warrant that any unauthorized party will not
      be able to gain access to the data (particularly when it is transmitted electronically),
      nor will Fannie Mae be responsible for any damages arising out of, or related
      to, such parties gaining access to the data and using the information it provides.
      Providing Consent to the Servicing Transfer If Fannie Mae consents to a proposed
      transfer of servicing, it will deliver its consent notice to the transferor
      and transferee servicers to the contacts designated on Form 629. By implementing
      the related transfer of servicing, both the transferor and transferee servicers
      agree to the provisions of the MSSC, Lender Contract, and any amendments made
      to such agreements. The transferor and transferee servicers must comply with
      any other provisions set forth in the consent notice. As a condition of approving
      the transfer of servicing, Fannie Mae Published May 13, 2026 114 reserves its
      right to request and obtain (at any time) a copy of the servicing transfer agreement
      between the transferor servicer and the transferee servicer. Fannie Mae’s conditions
      for approval of a servicing transfer are discussed in F-1-11, Post-Delivery
      Servicing Transfers. Fannie Mae may also impose additional terms and conditions
      on its consent to a servicing transfer as deemed appropriate under the particular
      circumstances, as described in its communication to the transferor servicer.
      Servicing Transfer as a Result of the Servicer’s Termination of the Servicing
      Relationship If a servicer decides to terminate its servicing relationship with
      Fannie Mae, the transfer of the servicer’s entire servicing portfolio must include
      all mortgage loans that are being serviced even if they no longer generate any
      servicing fee income. Therefore, acquired properties that have been removed
      from an active accounting status must be transferred, unless Fannie Mae has
      notiﬁed the servicer that Fannie Mae’s records have been closed or the servicer
      is only waiting for a request of reimbursement claims payment from Fannie Mae.
      Special Notiﬁcations to the Transferee Servicer The transferor servicer must
      provide special notiﬁcation to the transferee servicer when a transfer of servicing
      includes, but is not limited to the following types of mortgage loans: eMortgages,or
      mortgage loans subject to a resale restriction agreement or shared equity transaction
      agreement. See F-1-11, Post-Delivery Servicing Transfers for additional information
      and for special requirements related to servicing transfers involving eMortgages.
      When a Servicing Transfer Includes an eMortgage For an eMortgage, the transferee
      servicer must assume all of the responsibilities and duties of eMortgages. However,
      the transferee servicer’s assumption of these responsibilities, duties, and
      warranties will in no way release the transferor servicer from its contractual
      obligations related to the transferred mortgage loans. The two servicers will
      be jointly and severally liable to Fannie Mae for all warranties and for repurchase,
      all special obligations under agreements previously made by the transferor servicer
      or any previous servicer or servicer (including actions that arose prior to
      the transfer), and all reporting, compliance, and audit oversight related duties
      regarding the transferred mortgage loans. Servicing Fee As described in the
      following table, the transferee servicer will generally receive the same servicing
      compensation the transferor servicer was receiving. Published May 13, 2026 115
      For... The transferee servicer will generally receive... actual/actual and scheduled/actual
      remittance type portfolio mortgage loans the same servicing fee—the base servicing
      fee plus any excess yield—that the transferor servicer had been receiving. MBS
      mortgage loans and scheduled/scheduled remittance type mortgage loans held in
      Fannie Mae’s portfolio compensation at the same rate the transferor servicer
      had been receiving, which is the diﬀerence between the mortgage interest rate
      (less any applicable premium for lender-purchased MI) and the sum of Fannie
      Mae’s required PTR, the guaranty fee rate, and, if applicable, any portion of
      the servicing fee that has been securitized. Assumption of Warranties and Other
      Obligations The transferee servicer must assume all of the duties, selling representations
      and warranties, servicing responsibilities and liabilities, and recourse and
      repurchase obligations of the transferor servicer unless explicitly agreed to
      otherwise in writing by Fannie Mae with respect to the mortgage loans and acquired
      properties. This includes responsibility for the performance of special servicing
      obligations that were agreed to, whether those obligations were made when the
      mortgage loans were originally sold to Fannie Mae or subsequent to that date.
      However, the transferee servicer’s assumption of these responsibilities, duties,
      liabilities, and warranties will not release the transferor servicer from its
      contractual obligations related to the transferred mortgage loans or acquired
      properties. As of the earlier of the sale date or the transfer date for an approved
      transfer of servicing, the transferor servicer and the transferee servicer have
      joint and several liability with respect to all duties, selling representations
      and warranties, recourse and repurchase obligations, all obligations under agreements
      previously made by the transferor servicer or any previous seller or servicer
      with Fannie Mae, and servicing responsibilities and liabilities relating to
      the transferred mortgage loans and acquired properties. Additionally, when Fannie
      Mae does not reimburse additional fees incurred as a result of a servicing transfer,
      the transferee servicer is responsible for any legal fees incurred as a result
      of the servicing transfer. Fannie Mae does not release the transferor servicer
      of its obligations with respect to the transferred mortgage loans or acquired
      properties. Fannie Mae reserves the right to require payment of any proceeds
      of the servicing transfer to oﬀset any claims Fannie Mae may have against the
      transferor servicer or transferee servicer. Both the transferor servicer and
      the transferee servicer agree to indemnify and hold Fannie Mae harmless against
      all Fannie Mae losses arising out of a failure to fully transfer all documents,
      records, and funds. Notifying Borrowers The transferor and transferee servicers
      must work together closely to ensure that borrowers whose mortgage loans are
      the subject of a servicing transfer receive the information described in the
      following table. Published May 13, 2026 116 ✓ The transferor and transferee
      servicer must provide borrowers... Prompt and accurate information of a pending
      transfer of servicing. Prompt and courteous responses to their inquiries about
      the transfer. Speciﬁc notices regarding the transfer of servicing. All notices
      provided to borrowers must be made in accordance with applicable law, including
      the provisions of the RESPA and any state law requirements. If the servicer
      determines that the RESPA notiﬁcation of transfer letter is returned, the servicer
      must initiate skip trace activities to obtain an alternate mailing address.
      Notifying Third Parties The transferor or transferee servicer must take certain
      actions to ensure that all servicing functions that involve third parties will
      continue uninterrupted (or will be discontinued if that is appropriate) after
      the transfer of servicing. For speciﬁc information on the required actions,
      see F-1-11, Post-Delivery Servicing Transfers. Both the transferor and transferee
      servicers must take the notiﬁcation actions described in the following table
      when working with the document custodian. Responsible Party Action The transferor
      servicer must... • advise the transferor document custodian maintaining possession
      of the custodial documents related to the transfer of servicing within 30 days
      of the transfer eﬀective date, and • make arrangements for the prompt and safe
      transfer of the custodial documents to the transferee document custodian designated
      by the transferee servicer, if applicable. The transferee servicer must... Advise
      the transferee document custodian of the pending transfer of servicing. The
      transferor and transferee servicers must comply with the requirements outlined
      in Selling Guide A-3-3-05, Custody of Mortgage Documents. Also see Fannie Mae’s
      Requirements for Document Custodians for additional information. If the transferor
      servicer has been utilizing a self-custodian as its transferor document custodian
      related to a pending transfer, the transferee servicer may elect to use the
      transferor servicer’s document custodian as its designated transferee document
      custodian, unless Fannie Mae has indicated that it will not agree to such an
      arrangement. In such cases, the transferor servicer must continue to meet the
      eligibility criteria and operational Published May 13, 2026 117 requirements
      Fannie Mae has in place for document custodians as described in the Servicing
      Guide, Selling Guide, and the RDC Guide. The document custodian designated by
      the transferee servicer is required to recertify the custodial documents related
      to the transfer of servicing regardless of whether the documents themselves
      are moved and in accordance with Fannie Mae’s Requirements for Document Custodians.
      If the documents are not moved, the document custodian must change the servicer
      associated with the mortgage loan custodial ﬁles in its tracking system. The
      document custodian is required to track the custodial documents it holds on
      behalf of Fannie Mae by servicer. In addition, the transferee servicer must
      have a valid Master Custodial Agreement (Form 2017) in place with the document
      custodian. Transfer of Individual Mortgage Loan Files and Portfolio Information
      The storage format of the individual mortgage loan ﬁles must be in accordance
      with Selling Guide A2-4.1-03, Electronic Records, Signatures, and Transactions.
      For speciﬁc information that must be delivered by the transferor servicer to
      the transferee servicer, see also F-1-11, Post-Delivery Servicing Transfers.
      In general, the transferee servicer must incorporate ﬂexibility into its default
      and other servicing procedures to take into consideration problems that may
      be attributable to the logistics of servicing transfers. The following table
      describes the requirements of the transferor servicer with regard to transferring
      individual mortgage loan ﬁles and portfolio information. ✓ The transferor servicer
      must... Deliver to the transferee servicer the complete individual mortgage
      loan ﬁle, as deﬁned in Selling Guide A2-4.1-01, Establishing Loan Files, for
      each mortgage loan included in the transfer. Also, see F-1-11, Post-Delivery
      Servicing Transfers for additional information and for special requirements
      related to the transfer of servicing involving eMortgages. Identify to the transferee
      servicer any mortgage loans that are in foreclosure, bankruptcy, or subject
      to a workout option and for any acquired properties (if Fannie Mae has not sold
      them by the transfer dater), as required in F-1-11, Post-Delivery Servicing
      Transfers. Turn over the complete books and records to the transferee servicer
      of each mortgage loan or acquired property. Maintain adequate records of the
      mortgage loans and acquired properties included in the portfolio transfer in
      their corporate records so that it can easily identify the documents and information
      turned over to the transferee servicer. The following table describes the requirements
      of the transferee servicer with regard to transferring individual mortgage loan
      ﬁles. Published May 13, 2026 118 ✓ The transferee servicer must... Receive a
      complete copy of the individual mortgage loan ﬁles so that it is able to service
      the transferred mortgage loans without interruption as of the transfer date.
      Understand borrower account histories (including the amount and nature of all
      servicing advances and fees assessed to the borrower) as of the transfer date.
      Review its subsequent collection of funds from borrowers to ensure accurate
      accounting for recovery of advances charged to the borrower. Honor any forbearance
      agreements or other arrangements made with borrowers by the previous servicer
      (or provides reasonable notice of any change in these arrangements—if contractually
      permitted). The following table describes the requirements of both the transferor
      and transferee servicers with regard to transferring individual mortgage loan
      ﬁles and portfolio information. ✓ Both the transferor and transferee servicer
      must... Ensure that fees and charges improperly assessed to a borrower are promptly
      refunded or credited to the borrower’s account. Establish procedures for the
      delivery and receipt of information after the transfer date in the event that
      the transferor servicer obtains any other information related to the transferred
      mortgage loans that must be sent to the transferee servicer. Maintain adequate
      records of the mortgage loans and acquired properties included in the portfolio
      transfer in their corporate records so that they can easily identify • the mortgage
      loans and acquired properties included in the transfer, • the transfer date,
      • the parties involved in the transfer, and • the documents an information turned
      over to the transferee servicer. Submission of Final Accounting Reports/Remittances
      The transferor servicer must submit the monthly LARs for Fannie Mae’s investor
      reporting system for the month of the transfer date. The transferor servicer
      is contractually responsible for all remittances due Fannie Mae for the ﬁnal
      monthly accounting period. Published May 13, 2026 119 For additional information
      regarding the ﬁnal accounting reports and remittance requirements related to
      mortgage loans included in a transfer of servicing, see F-1-11, Post-Delivery
      Servicing Transfers. Preparing Mortgage Loan Assignments The transferor servicer
      must prepare and record an assignment, if required, to ensure the chain of assignment
      is complete. If the transferee servicer is a master servicer utilizing a subservicer
      and the subservicer will be the mortgagee of record, the required assignment
      must be either from the transferor to the subservicer if the mortgage loan is
      not registered with the MERS or from the MERS to the subservicer if the mortgage
      loan is registered with the MERS. Fannie Mae will hold both the transferor servicer
      and the transferee servicer accountable for ensuring all assignments are appropriately
      prepared and recorded, where applicable. For additional information regarding
      the mortgage assignment requirements, see Preparing Mortgage Loan Assignments
      in F-1-11, Post-Delivery Servicing Transfers. Transfer of Custodial Documents
      In the case of a transfer of servicing, the transferee servicer is authorized
      to elect to keep the custodial documents for the transferred portfolio mortgage
      loans and MBS mortgage loans at any Fannie Mae document custodian with which
      the transferee servicer has a custodial agreement on ﬁle with Fannie Mae. The
      document custodian must meet all of the requirements outlined in Fannie Mae’s
      Requirements for Document Custodians in A2-6, Custodial Documents. The servicer
      must follow the procedures in Transfer of Custodial Documents in F-1-11, Post-Delivery
      Servicing Transfers. Transitional Responsibilities The following table describes
      the transitional responsibilities of both the transferor and transferee servicers.
      ✓ Both the transferor and transferee servicers must... Ensure that their staﬀs
      and facilities are adequately prepared to process servicing and accounting transactions
      and to respond to borrower inquiries during the transfer transition period.
      Assume responsibility for responding to borrower inquiries that are received
      after the transfer date. The following table describes the transitional responsibilities
      of the transferee servicer. Published May 13, 2026 120 ✓ The transferee servicer
      must... Give special consideration to the borrower’s needs. Make every eﬀort
      to resolve disputes to the borrower’s satisfaction when the dispute arises from
      a legitimate misunderstanding of the instructions that were included in the
      notices of transfer that were sent to the borrower. Waive late notices. Make
      appropriate adjustments to payment and credit records to reﬂect misapplied or
      unapplied payments that were owed to the transferee servicer, but which were
      sent to the transferor servicer, if necessary. Recent Related Announcements
      The table below provides references to recently issued Announcements that are
      related to this topic. Announcements Issue Date Announcement SVC-2026-04 May
      13, 2026 Announcement SVC-2024-07 December 18, 2024 Announcement SVC-2024-06
      November 13, 2024 Announcement SVC-2023-05 October 11, 2023 Announcement SVC-2023-03
      May 10, 2023 Announcement SVC-2022-03 May 11, 2022 Announcement SVC-2021-07
      October 13, 2021 Published May 13, 2026 121 Chapter A2-8, Mortgage Electronic
      Registration System Introduction This chapter contains information on the Mortgage
      Electronic Registration System.'
  judgment: false
