Fannie Mae SVC-2014-01 Mortgage Loan Modification Payment Change
On January 24, Fannie Mae issued Servicing Guide Announcement SVC-2014-01, subtitled Mortgage Loan Modification Payment Change Notification Updates.
Servicing Guide Announcement SVC-2014-01
Mortgage Loan Modification Payment Change Notification Updates
Fannie Mae is updating its requirements for borrower notification of the interest rate adjustment for a mortgage loan that has been modified and is subject to step interest rate adjustments, including Fannie Mae HAMP Modifications.
Servicers are encouraged to implement the requirements in this Announcement immediately; however, servicers are required to implement these payment change notification requirements by April 1, 2014.
Please click here to view the announcement in its entirety.
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.