Fannie Mae SVC-2012-03 Servicing Guide

On March 14, Fannie Mae released SVC-2012-03: March 2012 Servicing Guide Update.

 

Announcement SVC-2012-03: March 2012 Servicing Guide Update
This Announcement introduces Fannie Mae's 2012 Servicing Guide. The 2012 Servicing Guide includes the incorporation of previously issued announcements from Sept. 1, 2010 through Sept. 2, 2011. No policy changes were made that have not been previously issued through an announcement; however, a number of clarifications have been made that were not included in previously issued announcements. This Announcement also introduces the new Fannie Mae Reverse Mortgage Loan Servicing Manual found on our website. Refer to the Announcement for details.

Announcement SVC-2012-04: Updates to Lender-Placed Property Insurance and Hazard Insurance Claims Processing
With this Announcement, Fannie Mae is amending and clarifying its policies regarding the use, coverage requirements, deductibles, carrier eligibility requirements, and allowable reimbursable expenses for lender-placed insurance. In addition, Fannie Mae is providing additional guidance to servicers for submitting property insurance claims to the insurance provider and remitting outstanding insurance funds to Fannie Mae after a mortgage loan is liquidated due to a foreclosure sale or a deed-in-lieu of foreclosure.


More Bang for Your Buck
Jazz up your mortgage statements with customized buckslips, flyers, brochures and more through the Marketing Storefront on the KnowYourOptionsTM website. This site has dozens of professionally designed tools you can customize and download (at no charge), or have printed and shipped to you (there is a cost associated with this option). For additional assistance, view the online job aid, contact the Servicer Support Center at 1-888-FANNIE5 (1-888-326-6435), or email the servicing solutions team.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees  and a handful of contractors performing services in the Midwest, to a national company with nearly 1,000 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.

 

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