FHA Announces New Single Family Loan Servicing Contractor
On September 24, the Federal Housing Administration (FHA) released INFO message #14-57, discussing ML 2014-19 titled “New Single Family Loan Servicing Contractor”.
FHA INFO #14-57
September 24, 2014
FHA SINGLE FAMILY HOUSING NEWS
NEWS AND UPDATES
TO: All FHA-Approved Mortgagees
All HUD Field Offices and Homeownership Centers
All HUD-Approved Housing Counseling Agencies
FHA’s New Single Family Loan Servicing Contractor
On September 18, 2014, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter (ML) 2014-19 introducing our new loan servicing contractor, NOVAD Management Consulting. The new contract becomes effective September 29, 2014.
Under the contract, NOVAD Management Consulting will be responsible for servicing the Federal Housing Administration’s (FHA) Single Family Secretary-Held assets, including:
- Assigned Home Equity Conversion Mortgages (HECM);
- Title II mortgages;
- Partial Claim subordinate mortgages;
- HECM subordinate mortgages;
- Section 235 subordinate mortgages;
- Nehemiah subordinate mortgages;
- Emergency Homeowners Loan Program (EHLP) subordinate mortgages;
- Asset Control Area (ACA) mortgages;
- Hope for Homeowners (H4H) subordinate mortgages; and
- Good Neighbor Next Door (GNND) subordinate mortgages.
- View ML 2014-19 at http://portal.hud.gov/hudportal/documents/huddoc?id=14-19ml.pdf
- Questions? Call the National Servicing Center (NSC) at 1-877- 622-8525. Persons with hearing or speech impairments may reach this number via TTY by calling the Federal Information Relay Service at 1-800-877-8339.
Please click here to view the INFO message online.
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.