FNMA Disaster Assistance and AMN HSSN November Notes

Investor Update: On October 31, Fannie Mae released Servicing Notice: Assistance in Disasters: Hurricane Sandy and AMN/HSSN November 2012 Release Notes.

Servicing Notice: Assistance in Disasters: Hurricane Sandy

This Notice reminds servicers of their roles and responsibilities in dealing with the aftermath of a natural disaster, such as Hurricane Sandy. For example, servicers may temporarily suspend or reduce mortgage payments for up to 90 days for Fannie Mae borrowers whose income is affected by the disaster or for borrowers within federally declared disaster areas under Fannie Mae's Special Relief Measures policy. If a servicer has any doubt about the effect of the disaster on the condition of a property or the borrower's employment or income status, it should discontinue any legal action in process until it can determine the true status.

AMN/HSSN November 2012 Release Notes Now Available

Asset Management Network (AMN)/HomeSaver Solutions® Network (HSSN) Version 18.7 Release Notes are now available to all servicers. Fannie Mae has implemented changes to the AMN/HSSN application, which includes the addition of new edits on HSSN when attempting to cancel a loan modification case, an additional Servicing Management Default Underwriter™ (SMDU™) field for short sale and deed-in-lieu (DIL) of foreclosure cases, and a change to the Home Affordable Foreclosure Alternative (HAFA) indicator name. Contact: NSO Production Support.

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 more than 1,600 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.

OneCommunity

Stay informed about the latest industry news and events with our All Client Alert email newsfeed.

Ask The CEO

Got a question about Safeguard in the industry? Let us know in our Ask the CEO online Q&A section.