Fannie Mae issued Lender Letter LL-2021-015, providing advance notice of upcoming changes to Fannie Mae’s delivery requirement for unrecorded assignments of mortgage for loans not registered with Mortgage Electronic Registration System, Inc. (MERS). Per the Lender Letter, Fannie Mae is requiring a one-time delivery of 5 original Form 520’s (Irrevocable Limited Power of Attorney) to Fannie Mae in lieu of the delivery requirement for unrecorded loan-level assignments of mortgage for loans not registered with MERS. The 5 original Form 520’s must be completed and delivered by March 1, 2022 (Lenders and servicers, however, are encouraged submit Form 520 to Fannie Mae immediately).
Click to view the Fannie Mae Lender Letter LL-2021-015: https://www.tenaco.com/wp-content/uploads/2021/10/Fannie-Mae-Lender-Letter-LL-2021-15-10-20-21.pdf
Click to view the FNMA Irrevocable Limited Power of Attorney-Form 520: https://www.tenaco.com/wp-content/uploads/2021/10/FNMA-Irrevocable-Limited-Power-of-Attorney-Form-520.pdf
