Fannie Mae: SVC-2018-09: Servicing Guide Updates
Investor Update
December 12, 2018
Source: Fannie Mae (SVC-2018-09 full announcement)
The Servicing Guide has been updated to include changes related to the following:
- Insurer Rating Requirements
- Flood Insurance Updates and Guide Alignment*
- Loss Draft Proceeds and Other Unapplied Funds in Taxes and Insurance Custodial Accounts
- Incorporation of Borrower-Initiated Conventional Mortgage Insurance Termination Policies*
- Effective Date Change for Certain Borrower-Initiated Conventional Mortgage Insurance Termination Policies*
- Miscellaneous Revisions*
*Policy change not applicable to reverse mortgage loans.