The following two changes will be made to all generic security instruments:
1. Change of Citation: For those security instruments which reference Regulation X (e.g. Conventional FNMA First Lien and FHA instruments), the current citation to the Department of Housing and Urban Development’s version of this regulation (24 CFR Part 3500) will be changed to the Consumer Financial Protection Bureau’s version (12 CFR Part 1024), as allowed by FNMA (see https://www.efanniemae.com/sf/formsdocs/documents/).
2. Inclusion of MERS Telephone Number: Per MERS guidelines, the Servicer Identification System (SIS) telephone number will print on the first page of all security instruments below the MERS Identification Number (MIN) which already prints on all security instruments. This information will be captioned as: “MERS Phone: 1-888-679-6377” (see MERS System Quality Assurance Procedures, App. B [Release 22.0] for details).
These updates to the standard security instruments will be put into production as soon as they become available. The first edits will take effect September 1, 2012. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
August 24, 2012