Tips for Entering Data and FAQs Fannie Mae Form 582, Lender

Tips for Entering Data and FAQs
Fannie Mae Form 582, Lender Record Information
Updated April 15, 2016
Form 582, Lender Record Information, is a web-based form used by Fannie Mae Sellers/Servicers to:
 Periodically update and verify contact information required by Fannie Mae
 Electronically certify that an organization’s contact information is accurate
Please review the Tips section before entering data in Form 582. The FAQ section provides additional
information in the form of common questions and responses.
Contents
Tips for Using Form 582 .......................................................................................................................................................... 1
Tips for Entering Data ............................................................................................................................................................. 1
Tips for Entering Data in the Customer Service Information to be Used in Transfer of Servicing Notices Section ............... 2
FAQs ....................................................................................................................................................................................... 3
Appendix: Contact Roles Worksheet ...................................................................................................................................... 9
Tips for Using Form 582
 Click the Help link at the top left corner of each screen for a business definition of the information to be
completed.
 At any time, you can complete and save partial information, then log back in later to finish your work and
complete your certification.
 Use the Next Section button on each screen to navigate to the next section of the form.
 Under the terms of your Mortgage Selling and Servicing Contract (MSSC) with Fannie Mae, you are
responsible for providing updated contact data throughout the year as necessary, without waiting until
your annual certification (see MSSC Section II.A.4, Report Basic Changes). Contact information updates
entered into an uncertified form (contact information entered but no “submission”) will be transmitted to
Fannie Mae by the next business day.
 Remember that although previously certified forms cannot be changed, you will have immediate and
ongoing access to the next year’s uncertified form to enable real-time key contact information updates.
Tips for Entering Data
 Start with the Main Menu and click the link for the first section you want to complete. The sections that
have not yet been completed have a status of Not Verified.
 Complete all fields marked with a “+.” These are required fields.
 After you have verified the data, select Yes in the Verified field at the bottom of each screen.
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• If a particular screen is not applicable to your company, leave the screen blank but select Yes to verify
that the screen should be blank for your company. When you finish working with each screen, click
Next Section.
 Every role needs to be assigned to a staff member.
• You can assign multiple roles to a single staff member. Click on a role, then hold down the Shift key
and select additional roles for that contact.
• You must identify at least one contact to discuss your Fidelity Bond and Errors and Omissions policy,
if necessary.
 Enter a valid email address that is unique and specific to each contact. Do not provide a generic
email address (e.g., [email protected]).
 Answer each certification question. Select the correct answer (Yes or No).
 Complete the Insurance Policy section, including carrier information, for your Fidelity Bond coverage and
your Errors and Omissions or Mortgage Impairment coverage, or verify that you have a mortgage
banker’s blanket bond that provides substantially the same coverage as that typically provided by fidelity
bond and errors and omissions coverage or mortgage impairment coverage.
 Include creditor information with all pledges of Fannie Mae servicing.
 Click the Final Certification link on the Main Menu to complete your certification and transmit your form
to Fannie Mae.
• When you are finished, you can print a copy of the completed, verified form.
• Important: You will not be able to certify and transmit the form until every section of the form has
been verified. You will not be able to make any changes to the form after you transmit the certified
form to Fannie Mae.
Tips for Entering Data in the Customer Service Information to be Used in Transfer of
Servicing Notices Section
 The address and telephone number you enter in this section will be printed on the Notification of
Assignment Letter (click to see sample) sent to borrowers. The information you provide should be the
servicing address and telephone number you want the borrower to use to contact you with any questions.
 The email address you provide will only be used by Fannie Mae internally to contact you if needed and will
not be included in a borrower notice or otherwise shared.
Sample entry screen
 If there is a change in the servicing address or phone number to be included in borrower notifications, or
your email contact for Fannie Mae’s use, please update your information promptly – refer to Q14 in the
FAQs section for guidance on updating contacts when your annual certification is not due.
© 2016 Fannie Mae. Trademarks of Fannie Mae.
4.15.2016
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FAQs
Q1.
When is the Lender Record Information – Form 582 – due for reporting to Fannie Mae?
Your online Form 582 is due 90 days after your fiscal year-end, but you may submit your online
Form 582 anytime during the 90-day period following your fiscal year-end. Please submit your
online Form 582 within 90 days of your fiscal year-end to remain in compliance with eligibility
requirements set forth in the Selling and Servicing Guides.
Q2.
Does the online Form 582 have to be submitted at the same time as the Audited Financial
Statement?
The online Form 582 does NOT need to be submitted at the same time as the Audited Financial
Statement. You can submit the online Form 582 as soon as you complete it.
Q3.
How do I transmit the Lender Record Information – Form 582 – electronically?
Follow these steps to access and transmit the Lender Record Information Form 582:
Step 1.
Navigate to www.fanniemae.com/singlefamily.
Step 2.
Enter “582” in the search field at the top of the page and click Enter.
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The Search Results page appears, and the link to Form 582 displays at the top of the list.
Step 3.
Click the Form 582 link to open the Form 582 page.
Step 4.
Click the LAUNCH APP button to access the login page.
The Lender Record Information Login page appears.
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4.15.2016
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Step 5.
Q4.
Enter your Username and Password, and then click Login.
I do not have a user ID and password. How do I get access to the electronic Form 582?
First-time users should contact their designated Technology Manager administrator to register for the
application. Only administrators have the ability to set up and manage application access for users.
Once registered, users can manage their passwords and personal profiles via the link below,
which can also be found on the Form 582 page on the business portal.
Technology Manager for Users: Profile & Password Management
If your company does not have a Technology Manager administrator, contact your Customer
Account Manager to obtain, complete, and submit the Signatory Authority form, which is required
for first time setups for Technology Manager. Individuals designated by your organization must then
follow these steps to register to become Technology Manager administrators:
Step 1.
Navigate to the Form 582 page on the business portal.
Step 2.
Click Technology Manager for Administrators: Registration & Account Management.
The Technology Manager page appears.
You can also navigate directly to the Technology Manager page on Fannie Mae’s business
portal at https://www.fanniemae.com/singlefamily/technology-manager.
NOTE:
Q5.
Step 3.
Click Technology Manager Administrator Registration Form.
Step 4.
Complete the form and email it to [email protected]
I know I have access to the Form 582 system, but I forgot my password or the system is not
accepting my password; who do I contact?
If you have not logged in with your user ID for the past 90 days, your access may be locked. If
you are unable to log in for any reason, please contact your Fannie Mae Technology Manager
administrator to unlock your account.
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If your company does not have passwords administered by the Technology Manager
administrator, follow these steps to reset your account:
Step 1.
Navigate to the Form 582 page on Fannie Mae’s business portal at
https://www.fanniemae.com/content/guide_form/form-582-lender-record-information.
Step 2.
Click Get Help with Your User ID or Password.
The Password Management: Enter User ID page appears.
Step 3.
Enter your User ID and click Submit.
Password instructions will be sent to the email address Fannie Mae has on file for you.
Q6.
I am having technical difficulty and am unable to access the Form 582. I checked our system,
and it seems to be working properly. Who do I contact at Fannie Mae?
Call the Customer Contact Center 800-2FANNIE (800-232-6643). Please listen to and follow the
prompts, and the appropriate Technical Support Representative will assist you.
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4.15.2016
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Q7.
Why do some certification questions have the answer space grayed out, so the user has no
option to answer?
If there is no option to answer a certification question, the question does not apply to your organization.
For example, if your company is not approved for Fannie Mae multifamily selling/servicing, any
certification question related to multifamily is disabled for your organization.
Q8.
If I have no information to report in the following sections*, what should I do?
*Multifamily Originations, Multifamily Servicing, Single-Family Originations, Single Family
Servicing, Subservicer, Master Servicer, Ownership Interest, Pledge of Fannie Servicing To
Creditors, Warehouse Banks (regulated institutions will generally not use warehouse banks).
 Leave the section blank.
 At the bottom of the screen, there is a box to verify your answer — select Yes from
the drop-down menu.
 Click Save.
Q9.
I am unable to certify the form – my only option is CANCEL; what should I do?
 Do not select CANCEL, as this will delete the information that you completed.
 Select HOME at the uppermost left top of the form. Remember to note any sections that are NOT
VERIFIED, and then verify them.
 Once you verify all sections of the form, a CERTIFY option will be noted in the FINAL
CERTIFICATION SECTION, but only after all sections have been verified.
Q10.
Why am I unable to print the form prior to transmitting this year’s certification?
The final form can be printed after submission. Once the final certification is completed and the
form is submitted, a “Printable Form” link appears under the final certification line for your use.
Contact Information
Multifamily Single Family
Principal Officers
Other Officers and Contacts
FBEO Lender
Originations
Multifamily
Single Family
Servicing
Multifamily
Single Family
Subservicing Information
Subservicer
Master Servicer
Affiliates Information
Fannie Mae Approved Affiliates
Non-Fannie Mae Approved Affiliates
Other Information
Addresses
Insurance Coverage
Ownership Interest
Pledge of Fannie Mae Servicing To Creditors
Warehouse Bank
Document Custodian
Certification Information
Certification Questions
Final Certification
Printable Form
Q11.
How can I obtain an explanation/definition of the meaning of a specific category?
Click the Help link at upper left-hand side of the screen for more information.
© 2016 Fannie Mae. Trademarks of Fannie Mae.
4.15.2016
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Q12.
In the Single-Family and or Multifamily Originations section of the form, how should I classify
the following loan types: Alt-A, jumbo loans, subprime, or home equity lines of credit?
 For Alt-A or subprime loans, first determine if they are government or conventional;
then note either fixed-rate or ARM.
 Classify jumbo single-family loans as OTHER.
 Classify home equity lines of credit as Second Mortgage loans.
Q13.
I have certified Form 582, but realized there was an error that I want to correct. How can I make
the edit(s)?
Once the Form 582 has been certified, certification question information cannot be changed.
For non-certification question information, you should correct the error on the “Outstanding Form” (the
form due for your next fiscal year end) by modifying the information you wish to change, then verify
the information and save. Fannie Mae notes the recorded change.
If you have any other question regarding correcting errors, please contact Robert Tomecek, Credit
Risk Manager, Underwriting and Pricing at (312) 368-6306 for assistance.
Q14.
What do I need to do after I have certified the form if anytime throughout the year I need to
update the form for one or more of the following: Fidelity Bond and Errors and Omissions
Coverage, our Key Contacts and/or Address, Warehouse Bank Information, Subservicing
Information, Ownership Interest, Affiliate Information?
Once Form 582 has been certified, the certified form cannot be modified or updated. You can add
or modify required information on the form listed as “Outstanding Form” (the form due for your next
fiscal year end).
Once you modify and/or add information to the Outstanding Form, click the Verify option and Save.
Fannie Mae will note the recorded modification and or addition.
If you should have any other question regarding updating the form once the form has been certified,
please contact Robert Tomecek, Credit Risk Manager, Underwriting and Pricing at (312) 368-6306
for assistance.
© 2016 Fannie Mae. Trademarks of Fannie Mae.
4.15.2016
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Appendix: Contact Roles Worksheet
This worksheet may be used to list your contacts for each role before entering them in Form 582.
Single-Family Contact Roles
CE/Capital Markets
CE/CEO
CE/CFO
CE/CIO
CE/COO
CE/Investor Reports
CE/Originations Sales
Credit Risk – Underwriting/Pricing Roles
UP/Chief Risk Officer
UP/Credit Loss/Repurchase
Servicing Roles
NSO/Collection Efforts
NSO/Repurchase/Compensatory Fees
Multifamily Contact Roles
MMB/CEO
MMB/CEO Admin
MMB/CFO
MMB/Chief Asset Manager
MMB/Chief UW
MMB/COO
MMB/Deputy Chief UW
MMB/Head of Agency
MMB/Head of Capital Mkt
MMB/Head of Marketing
MMB/Head of Production
MMB/Head of Servicing
© 2016 Fannie Mae. Trademarks of Fannie Mae.
4.15.2016
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