F-1-26, Servicing eMortgages (11/13/2024)

Update the MERS eRegistry to provide notice of the modification agreement.

Maintain the original modification agreement in the servicing file and all associated modifying instruments.

Submit a Request for Transfer of Control of eNotes (Form 2009e) to Fannie Mae’s Custodian Oversight Department at [email protected] at least three business days before the change in control and location is required.

Accept the transfer on the same business day the servicer receives notification from Fannie Mae that the transfer has been initiated.

Verify that the transfer has been completed and that the servicer now is in the CONTROLLER field on the MERS eRegistry and is also listed in the LOCATION field.

Request a change in Control and Location of the eNote from Fannie Mae.

Print the Authoritative Copy of the eNote.

Update the status on the eRegistry to “INACTIVE-Converted to Paper.”

Attach the following to the printed Authoritative Copy of the eNote:

• date of conversion on the MERS eRegistry;

• the name and company of the person converting the eNote;

• a copy of the MERS eRegistry transfer history reflecting the servicer as the final controller of the eNote;

• a statement indicating that the MERS eRegistry transfer history and future paper endorsements are incorporated into the Note as an allonge;

• a copy of the MERS eRegistry transaction history reflecting the eNote has been converted into a paper-based Note;

• a statement signed by an officer of the servicer indicating the processes and methods used in printing the eNote ensured

  • the information and signatures on the face of the printed eNote are a complete and accurate reproduction of those reflected on the face of the Authoritative Copy of the eNote;

  • the servicer, at the time of the conversion to paper, maintained control and possession of the eNote;

  • the eNote can no longer be transferred to a new note holder; and

  • the MERS eRegistry shows the electronic eNote has been converted to a paper-based Note; and

• any other allonge appropriate for the Note.

Ensure the paper-based eNote reflects it is an eNote that has been converted to paper and the paper-based eNote is now the original Note.

Complete an endorsement of the converted eNote in blank and without recourse using the allonge.

Deliver the converted (paper) eNote to the lender that is originating the CEMA.

Send the converted (paper) eNote, that is endorsed in blank and without recourse, to the servicer's document custodian within three business days of receipt of the Note from the CEMA lender. The communication to the document custodian must:

• include a subject line that displays, "PAPER NOTE - CONVERTED FROM eNOTE;" and 
• indicate the converted eNote was previously maintained by Fannie Mae.

Note: Because the document custodian may not have records or corresponding data for the converted eNote, the servicer must coordinate with its document custodian on the appropriate process for providing data and onboarding of the Note to its document custodian.

Submit a request to remove SFC 508 (used to identify an eMortgage) from the mortgage loan via the post-purchase adjustment process (see Fannie Mae's website for additional information).