Fannie Mae Servicer Expense Reimbursement Processing Update
On February 19, Fannie Mae released a notice titled Servicer Expense Reimbursement Processing Update and announced an updated job aid for implementing modifications.
Servicer Expense Reimbursement Processing Update
This Change Notification provides an update on the processing timeline for servicer expense reimbursement claims and information on how to sign up for ACH by visiting the Direct Deposit Resources section of the Servicer Expense Reimbursement page.
Updated Job Aid on Implementing Fannie Mae Modifications Now Available
The revised Implementing a Fannie Mae Modification and Streamlined Modification Job Aid, formerly titled Implementing Fannie Mae Standard Modifications, has been published in the Servicing Learning Center. The updates reflect the changes detailed in Announcement SVC-2013-28 which expands the Fannie Mae Standard Modification and Streamlined Modification programs to include mortgage loans with a pre-modified mark-to-market loan-to-value ratio less than 80%. As a reminder, servicers are encouraged to implement the policies set forth in Announcement SVC-2013-28 as soon as possible, but are required to do so for borrowers who are eligible for a Fannie Mae Modification or Streamlined Modification by April 1, 2014.
Please click here to view the online notice.
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