Fannie Mae SVC-2013-28 Modification Updates and SVC-2013-29 Transfers of Servicing
On December 19, Fannie Mae released Announcement SVC-2013-28: Fannie Mae Standard Modification and Streamlined Modification Updates and Announcement SVC-2013-29: Transfers of Servicing.
Announcement SVC-2013-28: Fannie Mae Standard Modification and Streamlined Modification Updates
This Announcement reports that the Fannie Mae Standard Modification and Streamlined Modification programs are being expanded to include mortgage loans with a pre-modified mark-to-market loan-to-value ratio less than 80%.
Announcement SVC-2013-29: Transfers of Servicing
This Announcement describes policy changes for servicing transfers, including the requirements to obtain prior written approval from Fannie Mae and to submit a Request for Approval of Servicing or Subservicing Transfer (Form 629). Also described is the scope of evaluations Fannie Mae will conduct on subservicers.
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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.