Fannie Mae Servicer REAM Deficiency Billing System Update
On Sept. 26, SRDBS will be improved to include new features, including the ability for sub-servicers to access the application.
SRDBS Version 3.0 Release Notes
September 24, 2014
During the weekend of September 26, 2014, Fannie Mae will implement Servicer REAM Deficiency Billing System (SRDBS) Release 3.0, which includes the changes described below for the SRDBS application.
To assist with the collection of payments for Homeowner Association and Property Tax deficiencies paid at closing, as well as keeping in alignment with Fannie Mae Single-Family Announcement SVC-2012-21, a vendor portal for Notices of Title Defects post foreclosure and Indemnification Billings for both pre- and post-foreclosure was implemented. The vendor portal system, SRDBS, allows servicers the ability to access interactive workflows, view invoices and supporting documentation daily, as well as upload supporting documents, and provide real time feedback on a case level basis. The application is available on the SRDBS page or via the Asset Management Network (AMN) application.
One important new feature will include the ability for sub-servicers to access and utilize the system. New users should contact their Technology Manager administrators for access to the application.
*For HOA/Tax deficiency amounts, servicers will now be able to upload supporting documents via a hyperlink for the item in question.
If you have any immediate questions or concerns, please reach out to your Fannie Mae servicing team at email@example.com for loans that are pre foreclosure, or the REAM Repurchase Referral Group at firstname.lastname@example.org for loans that are post foreclosure.
Please click here to view the release notes online.
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.