Fannie Mae Releases Servicing Policy Updates
On March 12, Fannie Mae released two servicing policy updates and announced a redesign of its Servicing page.
Selling/Servicing Notice: Discontinuance of the Federal Reserve Board CD Index
This Notice announces that Fannie Mae is substituting indexes based on the LIBOR rates published in The Wall Street Journal for the discontinued Federal Reserve Board CD rates. Also, two standard ARM Plans based on the discontinued index are retired, effective immediately. The updated Standard ARM Plan Matrix is available on the business portal.
Servicing Notice: Effective Date Change for Fannie Mae Standard Modification and Streamlined Modification Updates
This Notice announces that Fannie Mae is postponing the effective date of April 1, 2014, for implementation of requirements set forth in Announcement SVC-2013-28, Fannie Mae Standard Modification and Streamlined Modification Updates. An announcement will be issued in the near future that sets a new effective date and updates other requirements related to these modification programs.
Servicing Page Redesigned to Suit Your Needs
In response to user feedback, we have redesigned the Servicing page to provide you a faster and easier way to access content. Resources on the page were consolidated into simpler sections and are now organized under clear and logical headings that align with the terms used in the Servicing Guide. We appreciate your continued feedback on the site.
Please click here to view the online release.
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally. Website: www.safeguardproperties.com.