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Fannie Mae: Servicing Guide Is Updated, SMDU Enhancements; Mortgage Assistance Application in Spanish; and More

Investor Update
December 13, 2017

Announcement SVC-2017-11: Servicing Guide Updates

The Fannie Mae Servicing Guide has been updated to simplify servicing and make it easier to do business with us. These changes:

  • Streamline the Selling and Servicing Guides by removing certain topics from Servicing Guide Part A pertaining to the ownership and retention of loan files. These topics will be updated and included in the Selling Guide on Dec. 19.
  • Establish an expense reimbursement of up to $30 for servicers required to obtain an insured loss repair inspection on a current or delinquent mortgage loan.
  • Remove the requirement that servicers must report damage to us following an uninsured loss event. See Lender Letter LL-2017-07 for more details.

For a summary of key updates in Servicing Guide Announcement SVC-2017-11, view the executive overview from Carlos Perez, Chief Credit Officer for Single-Family.

Enhancements to SMDU coming this weekend

This weekend, Fannie Mae will implement enhancements to Servicing Management Default Underwriter™ (SMDU™). Please refer to the SMDU Version 7.6 release notes for more information. As a reminder, to implement this release, SMDU will be unavailable to process transactions from 10 p.m. ET on Friday, Dec. 15 until 4 p.m. ET on Saturday, Dec. 16. If you have questions about this release, please contact your Fannie Mae Servicing Account Manager.

Mortgage Assistance Application in Spanish

The Mortgage Assistance Application (Form 710) is now available in Spanish (Form 710s) to help servicers communicate with Spanish-speaking customers during the loss mitigation process. This is just one of the Spanish Language Resources for Servicers we provide to help make it easier to serve borrowers.

Find your way around Fannie Mae with the Quarterly Compass

Need some direction on where to find information on Fannie Mae technology enhancements, updated policies, and training opportunities? Catch the last Quarterly Compass of the year, which highlights the best of Q4 2017 and what’s to come in 2018. In case you missed something, you’ll also get the latest news on originating and underwriting, servicing, affordable lending, and much more.

New reports and features on Fannie Mae Connect

Over the weekend of Dec. 9, we added new reports and improved the user interface in Fannie Mae Connect™ to help you better access the information you need to drive your business. A few highlights include: 

  • A more robust View All Reports page in the Report Center provides the full list of reports available on Fannie Mae Connect. Hovering over a report name on this page will display the description and other information.
  • The launch of two new reports and updates to others.

Review the Release Tracker and Report Directory for more information on these and all the latest changes in Fannie Mae Connect. If you do not have access to Fannie Mae Connect, please contact your Corporate Administrator.

Coming soon: New annual certification platform

The Fannie Mae Lender Record Information Form 582 has been re-imagined and redesigned to provide a better customer experience. Beginning with the Dec. 31 fiscal year-end and corresponding Mar. 31 submission deadline, Fannie Mae Sellers/Servicers will use the new platform to complete their annual certification. Features of the new platform include intuitive navigation, progress indicators, information carry-over from previous years, download and print options, and more. We will automatically provide access to the new platform to the individuals who have access to the legacy Form 582 platform. We’ll also move information from your prior year certifications and any data that might have been updated since your last submission to the new platform.

More information about the transition to the new platform will be provided to Sellers/Servicers in early January.

Reminder: Year-end availability for AMN/HSSN and SMDU Case Management

Due to year-end processing, AMN/HSSN will shut down at 10 p.m. ET on Saturday, Dec. 30 and will not be available again until 8 a.m. ET on Tuesday, Jan. 2, 2018.

As a result, SMDU Case Management functionality will also be unavailable during the above-noted downtime. SMDU Auto-Decisioning functionality will be available.

In preparation for year-end activity and to ensure all HSSN workout bulk uploads are processed prior to the system becoming unavailable, we suggest that all HSSN bulk workout case activity be submitted no later than noon ET on Saturday, Dec. 30.

Join us at these upcoming events:

Jan. 22-25 | MBA Independent Mortgage Bankers Conference | Amelia Island, FL
Feb. 6-7 | Texas MBA Southern Secondary Market Conference | Houston
Feb. 6-9 | MBA National Mortgage Servicing Conference & Expo | Grapevine, TX

View more events.

You may also be interested in…

Meet one of the industry’s newest CMBs, Fannie Mae’s Christy Moss
Just over 1,200 industry professionals have received MBA’s highest professional distinction. Read more

‘mPowering You’ connects women during MBA Annual and beyond
MBA is helping industry women connect, in person and online. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

The number of gig economy workers, people making money by offering services such as ride sharing, has grown. Now our researchers look at whether or not these consumers plan to buy a home.
http://bit.ly/2C35VMS

Dec. 11

We’re suspending evictions of foreclosed single-family properties between Dec. 18, 2017-Jan. 2, 2018. We encourage homeowners who may be struggling w/ their mortgage to reach out to their servicer for help, or contact us at 1-800-232-6643. #KnowYourOptions
http://bit.ly/2kYDEmA

Dec. 11

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