Fannie Mae has released Announcement 07-03 which supersedes Announcement 06-27 in its entirety and provides an effective date (June 1, 2007) for the Trust Agreement and effective dates for the related servicing enhancements discussed in Announcement 06-27

Included in this Announcement is clarification for the following servicing-related policies.

Eligible Custodial Depositories
Funds in Custodial Accounts
Mortgage Loans Purchased for Cash and Subsequently Pooled 
Full Payoffs 
Forbearance 
Repayment Plans 
Disaster Relief
Foreclosure 
Mortgage Loans Delinquent for 24 Consecutive Months 
Claim Settlements for MBS Regular Servicing Option Pool Mortgages
Delinquency Status and Reason Codes 
Due-on-Transfer Clauses 
Mortgage Loan Modifications 
Mandatory Repurchase of Certain MBS Pool Mortgage Loans 
Roles of Fannie Mae and Servicers

To view the Announcement in its entirety, please click here.

Any questions regarding this Announcement should be directed to the respective Servicing Consultant or Customer Account Manager, orto the Fannie Mae National Servicing Organization’s Customer Care Center at 1-888-326-6438.