In FNMA SEL-2015-07, Fannie Mae made changes to FNMA 2015 Selling Guide B2-1.4-04 concerning escrow waivers, for the following reasons:
“The requirement for a separate escrow waiver disclosure has been removed from the Selling Guide because a similar disclosure is now part of the Closing Disclosure.”
While the escrow disclosures on page 4 of the CD do not provide as many details and ramifications as an actual Escrow Waiver, they do provide sufficient evidence that the consumer has opted to forego an escrow account and what the ramifications are for this choice.
As a result, we will be configuring Cx28 and Cx9826 to only print for non-TRID loans (when “Integrated Disclosure Loan Indicator” equals “No”). Clients who would still like to provide these documents for TRID loans may request to have the print configurations customized accordingly.
These changes will take effect on August 8, 2015. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
August 5, 2015