Fannie Mae: Improved Expense Reimbursement; MI Factor; and More
Source: Fannie Mae
Announcement SVC-2018-07: Foreclosure Sale Marketing and Foreclosure Auction Services
We are updating our policies in an off-cycle Servicing Guide Announcement by:
- Adding a new vendor to our Third Party Sale Program;
- Requiring servicers to use a Fannie Mae-approved vendor for foreclosure sale marketing services in certain jurisdictions (refer to Third Party Sales Foreclosure Bidding Instructionsas an additional resource); and
- Reminding servicers that they may submit payment changes with future effective dates starting on Oct. 28.
For more information, view Announcement SVC-2018-07.
The new expense reimbursement experience is here!
Expense reimbursements are now faster and easier. Starting this week, many expense reimbursement claims no longer require documentation, saving you time and effort in the reimbursement process. (Some claims may be selected for pre-payment manual reviews or post-payment reviews, but documentation will be required only upon request.) Reverse mortgages will be included at a later date. And, coming Sept. 28, the new self-service Expense Reimbursement Dashboard offers a single, centralized reporting location for claims, inquiries, and excess fee decisions. Visit the Servicer Expense Reimbursement page for more information.
MI Factor: Streamlined claims begin Oct. 1
MI Factor is a streamlined approach to the mortgage insurance (MI) claim settlement process designed to save both time and cost without adding risk. Starting Oct. 1, eligible claims with participating MI companies — ARCH/United Guaranty, Genworth, MGIC, and Radian — will be processed under the MI Factor program. Check out the fact sheet to learn more.
Changes to SF Master Servicing communications — coming in November
We’re making small changes in November to how Single-Family (SF) Master Servicing receives your calls and emails. Here’s what you can expect:
1. When calling 1-800-2FANNIE, you will be required to enter a valid servicer number to reach an analyst.
2. When emailing the SF Master Servicing team:
- You will receive an auto-response if you do not include your servicer number in your email. Reply to the email with your servicer number.
- You will also receive a case number in your auto-response (this will replace what we currently refer to as the ticket number).
- You can reach the SF Master Servicing team at (master_servicing@fanniemae.com) or call 1-800-2FANNIE (Option 1, then Option 6). For assistance with our technology applications, contact the Technology Support Center at 1-800-2FANNIE (Option 1, then Option 1) or via web chat, available 24/7 (except major holidays). See the Call Center Reference Guide for details on all available options.
Join us at these upcoming events:
Oct. 1-3 | MBAC 63rd Annual Conference | Asheville, NC
Oct. 14-17 | MBA Annual Convention and Expo 2018 | Washington, DC
Oct. 18-20 | AREAA National Convention | Las Vegas
View more events.
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