Fannie Mae Single Family Servicing News: New Line Items Available in LoanSphere Invoicing

Investor Update
August 31, 2016

New Line Items Available in LoanSphere Invoicing

As outlined in the updated Servicer Expense Reimbursement Line Items in LoanSphere Invoicing™ posted on August 24, Fannie Mae Expense Reimbursement has added new line items to the available list of line items in LoanSphere Invoicing™. The line items are

  • General Servicers Category 20
  • Subcategory 160: Escrow/Refund Provided in Error: This line item should only be used if the Servicer provided an Escrow Balance or a Refund in error and is requesting to be reimbursed.
  • Subcategory 159: FHA/VA/Rural HUD Reimbursement: This line item should be used if directed by a Fannie Mae representative to request payment for expenses associated with a FHA, VA, or RURAL loan. Expenses submitted on this line item will require pre-authorization by Fannie Mae.
  • Subcategory 161: Third Party Sales Reimbursement: This line item should only be used if directed by a Fannie Mae representative to request payment for expenses associated with a Third Party Sale. Expenses submitted on this line item will require pre-authorization by Fannie Mae.
  • Recording Costs Category 45
  • Subcategory 811: Mortgage Tax: This line item is used for mortgage taxes on a completed loan modification only in the States of Alabama, Florida, Kansas, Oklahoma, Minnesota, New York, and Tennessee.

In addition to the general services line items, new expense line items are available for reoccurring property inspections and monthly utilities. These new line items require the Servicer to enter in a Service From date and a Service To date. Specific details for these line items are available in the Servicer Expense Reimbursement Job Aid on the Fannie Mae business website.
 

Help Borrowers Exit Gracefully Through Short Sale or Mortgage Release

Our new on demand course focuses on best practices for having that difficult conversation with a customer who may not be eligible for retention solutions. Learn how to discuss the benefits of a graceful exit solution, such as short sale or Mortgage Release™, with your customers to allow them to transition from the property and avoid foreclosure.

AAA Matrices Updated for Several States

The Attorney Authorization Approval (AAA) Matrices for Arizona, California, Nevada, Ohio, and Washington have been updated to clarify Fannie Mae’s foreclosure related title costs guidelines. The Allowable Title Cost for Fannie Mae Foreclosures document has also been updated on the Fannie Mae business website to reflect the updates for these states. These documents are available for servicers who have access using their valid user ID and password. If you need access, contact your Technology Manager Administrator.

Access Message Manager Reports in Fannie Mae Connect

On August 29, 2016, nine Selling and Servicing reports were migrated to Fannie Mae Connect™ from Message Manager. The transition of these reports is part of a larger effort to centralize reporting, and to retire Message Manager in late October 2016.

More information on the Message Manager report transition is provided in the Fannie Mae Connect Implementation Notification.

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Summer price: $125 (June 20 through September 22)

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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