A4-1-03, Report of Changes in the Seller/Servicer’s Organization (09/04/2018)

The seller/servicer must send us 60 days’ advance written notice of any proposed major change in its organization to allow us adequate time to provide our prior written approval or notice of non-objection or objection, where required. The written notice must include copies of any filings with, or approvals from, the seller/servicer’s state or other regulatory authority. The seller/servicer is also required to provide immediate written notice to us if a regulatory agency assumes a participatory role in the management of the seller/servicer’s operations.

A seller/servicer’s failure to provide adequate written notice of or obtain prior written approval or notice of non-objection (where required) for such contemplated changes is a breach of the Lender Contract.

The seller/servicer must contact its customer account team for additional guidance or may email the notice to the Changes in Lender Organization mailbox (see E-1-02, List of ContactsE-1-02, List of Contacts).

In addition to advance written notice, major changes of the following types require Fannie Mae’s prior written approval of or notice of non-objection before the change is made.

Other major changes require advance written notice but not Fannie Mae’s prior written approval or notice of non-objection. Examples of those types of changes are described below.