GSE Annual Recertification Submissions Reminder

Written by: Heather Papows- Loan Servicing & Secondary Market Consultant

For institutions who sell and/or service loans for the GSE’s, the deadline for completion of the annual recertifications is March 30th if your fiscal year end aligns with the calendar year end (12/31). That means, what’s fresh on your agenda for this month is completion and submission of Freddie Mac’s Annual Eligibility Certification Report (Form 16SF) and Fannie Mae’s Lender Record Information (Form 582).

Freddie Mac seller/servicers submit their annual report via the UCount platform, the portal for electronically managing your annual certification and any change activity reporting throughout the year. Fannie Mae seller/servicers will complete their annual recert via the Enterprise Customer Relationship Management application platform. Forms in both platforms will walk you through reviewing and updating information including key contacts, portfolio statistics, and completing various questionnaires and attestations.

This year you will find a new Compliance section on the Freddie Mac form. Questions in this section look to gather information around the use of vendors for any outsourced functions, how the institution oversees that vendor’s compliance and performance, if written policies and procedures are in place, and if a Compliance Management System or Program exists. Updates to Fannie Mae’s form include a new Fair Lending section (gathering information around your adherence to the new requirements of maintaining Fair Lending Data for loans originated on or after March 1, 2023), as well as a new Quality Control section for providing contacts/vendors used in the pre- and post-closing process, and naming the person responsible for vendor oversight, if applicable.

As you finalize your preparations and submissions of both GSE forms, Spillane Consulting Associates stands ready to support you through the process. Whether you have questions about specific details on your certification, or you’re preparing for upcoming changes and possible reporting requirements, call on your trusted strategic partners for guidance. Contact our Director, Bill Dolan, at WDolan@scapartnering.com or by phone at (617) 694-2617 to set up a conversation today.