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Fannie Mae: Maximum Allowable Foreclosure Fees Update

Investor 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.

Transition Month Overview
January 11, 2017 from 2 – 3 p.m. ET
January 26, 2017 from 2 – 3 p.m. ET

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.

Learn More
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 call-in_information@fanniemae.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.

You may also be interested in…

5 ways to maximize your partnership with Fannie Mae
Keep your Fannie Mae account team current on your business plans. Read more

Existing-home sales highest in nearly a decade
Pent-up demand and first-time buyers contributed to continued strong sales of existing homes during October. Read more

Shift to rentals eats into supply of available starter homes
A study describes why starter homes, described as having 2,000 square feet of floor area, are in short supply. Read more.

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Recent Tweets

There’s a lot of pro-growth optimism in the market. Does our Econ. & Strategic Research Group share this sentiment?
http://bit.ly/2ha6YUH

December 20
 
HARP has been extended through Sep. 2017. More than 300K of our loans are still eligible for the program.
http://www.thehomestory.com

December 19

Source: Fannie Mae

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CEO

Alan Jaffa

Alan Jaffa is the Chief Executive Officer for Safeguard Properties, steering the company as the mortgage field services industry leader. He also serves on the board of advisors for SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.

Alan joined Safeguard in 1995, learning the business from the ground up. He was promoted to Chief Operating Officer in 2002, and was named CEO in May 2010. His hands-on experience has given him unique insights as a leader to innovate, improve and strengthen Safeguard’s processes to assure that the company adheres to the highest standards of quality and customer service.

Under Alan’s leadership, Safeguard has grown significantly with strategies that have included new and expanded services, technology investments that deliver higher quality and greater efficiency to clients, and strategic acquisitions. He takes a team approach to process improvement, involving staff at all levels of the organization to address issues, brainstorm solutions, and identify new and better ways to serve clients.

In 2008, Alan was recognized by Crain’s Cleveland Business in its annual “40-Under-40” profile of young leaders. He also was named a NEO Ernst & Young Entrepreneur Of The Year® Award finalist in 2013.

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Esq., General Counsel and EVP

Linda Erkkila

Linda Erkkila is the General Counsel and Executive Vice President for Safeguard Properties, with oversight of legal, human resources, training, and compliance. Linda’s broad scope of oversight covers regulatory issues that impact Safeguard’s operations, risk mitigation, strategic planning, human resources and training initiatives, compliance, insurance, litigation and claims management, and counsel related to mergers, acquisition and joint ventures.

Linda assures that Safeguard’s strategic initiatives align with its resources, leverage opportunities across the company, and contemplate compliance mandates. She has practiced law for 25 years and her experience, both as outside and in-house counsel, covers a wide range of corporate matters, including regulatory disclosure, corporate governance compliance, risk assessment, compensation and benefits, litigation management, and mergers and acquisitions.

Linda earned her JD at Cleveland-Marshall College of Law. She holds a degree in economics from Miami University and an MBA. Linda was previously named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.

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COO

Michael Greenbaum

Michael Greenbaum is the Chief Operating Officer of Safeguard Properties, where he has played a pivotal role since joining the company in July 2010. Initially brought on as Vice President of REO, Mike’s exceptional leadership and strategic vision quickly propelled him to Vice President of Operations in 2013, and ultimately to COO in 2015. Over his 14-year tenure at Safeguard, Mike has been instrumental in driving change and fostering innovation within the Property Preservation sector, consistently delivering excellence and becoming a trusted partner to clients and investors.

A distinguished graduate of the United States Military Academy at West Point, Mike earned a degree in Quantitative Economics. Following his graduation, he served in the U.S. Army’s Ordnance Branch, where he specialized in supply chain management. Before his tenure at Safeguard, Mike honed his expertise by managing global supply chains for 13 years, leveraging his military and civilian experience to lead with precision and efficacy.

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CFO

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard Properties. Joe is responsible for the Control, Quality Assurance, Business Development, Marketing, Accounting, and Information Security departments. At the core of his responsibilities is the drive to ensure that Safeguard’s focus remains rooted in Customer Service = Resolution. Through his executive leadership role, he actively supports SGPNOW.com, an on-demand service geared towards real estate and property management professionals as well as individual home owners in need of inspection and property preservation services. Joe is also an integral force behind Compliance Connections, a branch of Safeguard Properties that allows code enforcement professionals to report violations at properties that can then be addressed by the Safeguard vendor network. Compliance Connections also researches and shares vacant property ordinance information with Safeguard clients.

Joe has an MBA from The Weatherhead School of Management at Case Western Reserve University, is a Certified Management Accountant (CMA), and holds a bachelor’s degree from The Ohio State University’s Honors Accounting program.

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Business Development

Carrie Tackett

Business Development Safeguard Properties