Fannie Mae SVC-2014-07 Delinquency Management and Default Prevention Updates
On May 16, Fannie Mae released Servicing Guide Announcement SVC-2014-07, subtitled Delinquency Management and Default Prevention Updates.
Servicing Guide Announcement SVC-2014-07
Delinquency Management and Default Prevention Updates
This Announcement updates delinquency management and default prevention servicing policies, including those policies announced in Announcement SVC-2013-20: Delinquency Management and Default Prevention Updates Related to the Consumer Financial Protection Bureau Mortgage Servicing Rules and Other Servicing Responsibilities and Announcement SVC-2013-23: Delinquency Management and Other Servicing Responsibilities, related to the following:
- borrower solicitation letters, acknowledgement of borrower response package, and incomplete information notice;
- substantially complete borrower response package;
- payment adjustment of initial workout option offer after appeal decision; and
- referral to foreclosure and delay in legal action.
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.