Fannie Mae SVC-2015-06 Miscellaneous Servicing Policy Changes
On April 15, Fannie Mae released Servicing Guide Announcement SVC-2015-06, subtitled Miscellaneous Servicing Policy Changes.
Servicing Guide Announcement SVC-2015-06
Miscellaneous Servicing Policy Changes
Fannie Mae is amending its policies and requirements related to the following:
- Processing Additional Principal Payments for Delinquent Mortgage Loans
- Accepting Funds from Hardest-Hit Fund (HHF) Programs and Housing Finance Agencies (HFA)
- Processing a Partial Reinstatement During Foreclosure
Policy Change Effective Date
The servicer is encouraged to implement the policy changes in this Announcement immediately, but must implement the changes by June 1, 2015.
Date of Servicing Guide Update
These policy changes will be reflected in C-1.2-01, Processing Additional Principal Payments; D2-3.1-05, Interacting with Housing Finance Agencies and Hardest-Hit Fund Programs; and E-3.2-08, Processing Reinstatements During Foreclosure in the May 2015 monthly update of the Servicing Guide.
Please click here to view the announcement in its entirety.
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow. Website: www.safeguardproperties.com.