FNMA SVC-2013-23 Delinquency Management; Servicing Responsibilities
On November 25, Fannie Mae released Servicing Guide Announcement SVC-2013-23, subtitled Delinquency Management and Other Servicing Responsibilities.
Servicing Guide Announcement SVC-2013-23
Delinquency Management and Other Servicing Responsibilities
Fannie Mae is updating policies as a result of certain Consumer Financial Protection Bureau (CFPB) rules and regulations that implement the mortgage servicing provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and other eligibility requirements for liquidation workout options. The policies updated in this Announcement relate to:
- General requirements for standard short sale/HAFA II and Mortgage Release™
- Eligibility requirements for standard short sale/HAFA II, Mortgage Release, and streamlined documentation
- Property valuation for mortgage loan modifications
- Servicer requirements relating to an appeal
- Borrower inquiries
Unless stated otherwise, the effective date for the changes in this Announcement is January 10, 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.