Fannie Mae: Maximum Allowable Foreclosure Fees Update
December 21, 2016
The AAA Matrices have been updated to reflect the changes to the maximum allowable foreclosure fees for Fannie Mae mortgage loans secured by properties in Connecticut, Delaware, District of Columbia, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, South Carolina, South Dakota, Vermont, Virgin Islands, Wisconsin. Additional updates include, revised Colorado allowable pro-rated fee schedule, Ineligible fee verbiage clarification for all matrices, and the addition of a revision history section in the back of each matrix to detail all changes going forward. The updated versions will be available on the Fannie Mae business website on December 22. Servicers may access these documents on the Fannie Mae business website by logging in with their valid user ID and password (or contact their Technology Manager Administrator for access assistance).
January All-Servicer Forums: Fannie Mae Changes to Investor Reporting
Please plan to attend one of our upcoming Fannie Mae Changes to Investor Reporting-All Servicer Forums.
Loan Activity Processing (Transaction Type 96) Forum — January 17, 2017 from 2 – 3 p.m. ET
Overview of Interest Rate/Payment Changes and MI Discontinuation — January 18, 2017 from 2 p.m. – 3 p.m. ET
Loan Re-class and Loan Modifications — January 19 from 2 p.m. – 3 p.m. ET
Who should attend?
Every servicer who does business with us. Register today via one of the links above, or via our web page. Be sure to forward this message to others in your organization who would also benefit from these forums.
Visit the Fannie Mae Changes to Investor Reporting page to register for a forum and receive the latest information and resources. Questions? Contact your Servicer Integration Lead or email email@example.com.
Now may be the right time for a bulk transaction
With the recent movement in interest rates, now may be the right time for a bulk transaction with Fannie Mae, which may help you manage concentration risk and interest risk and improve liquidity and capital position for your business. To help you in this process, we recently updated the information and resources you need to complete a successful bulk transaction with us. Please contact your Fannie Mae account to learn more and get started.
Reimbursement for lockboxes
Effective immediately, Fannie Mae will reimburse for lockboxes within the knob lock/knob lock with deadbolt expense line as long as the expense is incurred on or after the date of this communication and it is within the allowable amount of $60 or less.
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Source: Fannie Mae