Safeguard Properties

FHA INFO #18-07: REMINDER: TOTAL Scorecard Database Upgrade Begins on Friday, February 16, 2018

Posted on by Safeguard

Investor Update
February 14, 2018

Today, the Federal Housing Administration (FHA) is issuing this reminder regarding the planned upgrade to its TOTAL Scorecard database beginning at 10:00 PM on Friday, February 16, through Monday, February 19, 2018.

During the upgrade, TOTAL Scorecard and FHA Connection (FHAC) will remain accessible during standard operating hours; however, data from transactions routed through the TOTAL Scorecard will not be transferred to FHAC until the upgrade is complete.

It is important to note that the database upgrade does not impact the completion of the endorsement process for those transactions where TOTAL scoring is complete prior to the start of the upgrade. Also note, that this is an upgrade to the database only; there is no impact or change to the version of TOTAL Scorecard currently in use.

If you have any questions regarding the upgrade, TOTAL Scorecard, or FHAC, or require additional information, contact the FHA Resource Center.

Quick Links

Resources

Contact the FHA Resource Center:

  • Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at:
    https://www.hud.gov/answers
  • E-mail the FHA Resource Center at: answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
  • Call 1-800-CALL-FHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.

Source: HUD (FHA INFO #18-07 full version)

Additional Resource:

HUD (FHA INFO #18-05)

FHA INFO #18-05: TOTAL Scorecard Database Upgrade Begins on Friday, February 16, 2018

Posted on by Safeguard

Investor Update
February 8, 2018

Today, the Federal Housing Administration (FHA) announced a planned upgrade to its TOTAL Scorecard database beginning at 10:00 PM on Friday, February 16, through Monday, February 19, 2018.

During the upgrade, TOTAL Scorecard and FHA Connection (FHAC) will remain accessible during standard operating hours; however, data from transactions routed through the TOTAL Scorecard will not be transferred to FHAC until the upgrade is complete.

It is important to note that the database upgrade does not impact the completion of the endorsement process for those transactions where TOTAL scoring is complete prior to the start of the upgrade. Also note, that this is an upgrade to the database only; there is no impact or change to the version of TOTAL Scorecard currently in use.

If you have any questions regarding the upgrade, TOTAL Scorecard, or FHAC, or require additional information, contact the FHA Resource Center.

Quick Links

Resources

Contact the FHA Resource Center:

  • Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at:
    https://www.hud.gov/answers
  • E-mail the FHA Resource Center at: answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
  • Call 1-800-CALL-FHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.

Source: HUD (FHA INFO #18-05 full version)

FHA INFO #18-04: Newly Redesigned ECLASS and EVARS Web-Based Applications Announced

Posted on by Safeguard

Investor Update
January 26, 2018

Today, the Federal Housing Administration (FHA) announced that it recently launched newly redesigned and enhanced Electronic Courses on Loss Mitigation and Servicing System (ECLASS) and the Extensions and Variances Automated Requests System (EVARS) web applications.

ECLASS is a portal to self-paced, online training for FHA-approved servicers, FHA-approved housing counseling agencies (HCA), and other non-profit housing counseling agencies. Our ECLASS web-based registration portal provides more opportunities for servicers/lenders and HCAs to easily self-enroll in the FHA National Servicing Center’s self-paced,
online, and onsite training, and is accessible 24×7.

EVARS is a web-based application that gives servicers the ability to request Extensions of Time and Variances related to FHA-insured Title II forward loans.

The updated web-based applications first became available to users on January 16, 2018.

Quick Links

Resources

  • Contact the FHA Resource Center:
  • Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at:
    https://www.hud.gov/answers
  • E-mail the FHA Resource Center at: answers@hud.gov. Emails and phone messages will be responded to during
    normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
  • Call 1-800-CALL-FHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by
    calling the Federal Relay Service at 1-800-877-8339.

Source: HUD (FHA INFO #18-04 full version)

Fannie Mae: Updated Imminent Default FAQs; New Servicer eLearning Courses; and More

Posted on by Safeguard

Investor Update
February 28, 2018

New Imminent Default Evaluation FAQs

Fannie Mae, in alignment with Freddie Mac and FHFA, is replacing the current Imminent Default Indicator™ model with a rules-based evaluation of borrowers for imminent default for conventional mortgage loan modifications. The new Imminent Default Evaluation FAQs provide additional details on the new evaluation rules. Servicers may begin using the new Imminent Default Evaluation, available now in Servicing Management Default Underwriter™ (SMDU™), and must implement no later than July 1.

New courses added to Introduction to Servicing eLearning series

Two new courses are available now in our self-paced eLearning series for new servicers: QC Audit and Compliance and Subservicer Oversight. Get up to speed quickly with each of these 15-minute courses.

Enhancements to AMN/HSSN

During the weekend of March 24, Fannie Mae will implement enhancements to Asset Management Network (AMN)/HomeSaver Solutions™ Network (HSSN). Please refer to the release notes for more information. As a reminder, to implement this release, AMN/HSSN will be unavailable for processing from 7 a.m. ET until 4 p.m. ET on Saturday, March 24. Due to related release work, SMDU Auto Decision functionality may experience some intermittent outages because SMDU relies on some HSSN/DARTS case data. If you experience an exception, please wait a few minutes and resubmit.

Reminder: Notifying document custodians for servicing transfers

After Fannie Mae has approved a servicer’s Form 629: Request for Approval of Servicing or Subservicing Transfer, the transferor servicer or the transferee servicer must notify their document custodian of the servicing transfer and include a final list of all transferred loans. Notification must occur even if the document custodian does not change. Review the list of active document custodians.

Join us at these upcoming events:
March 4-7 | Lenders One Winter Conference | Scottsdale, AZ
March 13-17 | ICBA Community Banking Live 2018 | Las Vegas
March 18-21 | Capital Markets Cooperative Annual Summit | Miami

View more events.

You may also be interested in…

“A Home of Your Own” pilot aims to help buyers achieve sustainable homeownership
Pilot program aims to increase minority homeownership numbers. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

74% of lenders told us that new industry-wide initiatives for standardizing and managing mortgage data are valuable. Details:
http://bit.ly/2BULCDK

Feb. 27

We recently partnered with @UCLAZimanCenter for Real Estate to discuss California’s affordable housing supply crisis. Here’s a recap:
http://bit.ly/2ES5ytB

Feb. 26

Source: Fannie Mae

Fannie Mae Two New Courses Added to Introduction to Servicing eLearning Series

Posted on by Safeguard

Investor Update
February 7, 2018

We’ve added two new courses to our self-paced series for new servicers: QC Audit and Compliance and Subservicer Oversight! Get up to speed quickly with each of these 15-minute courses. 

Source: Fannie Mae (Introduction to Servicing elearning page)

Fannie Mae: See How We’re Simplifying Servicing; Fannie Mae Invoicing; More

Posted on by Safeguard

Investor Update
January 31, 2018

See how our Simplifying Servicing journey continues

Stop by our booth in THE HUB during the MBA National Mortgage Servicing Conference & Expo where we’ll share our innovative solutions for bringing simplicity and certainty to servicing. And be sure to catch Fannie Mae speakers during the conference: Elonda Crocket, “Don’t Leave Money on the Table” on Feb. 7; Jake Williamson, “Information Sharing for Effective Property Maintenance Solutions” on Feb. 8; and Todd Barton, “Servicing Super Session” on Feb 9. See you next week!

What you should know about Fannie Mae Invoicing

Have you started using Fannie Mae Invoicing yet? Here are some things you should know:

  • New invoices and outstanding billing data have been available in Fannie Mae Invoicing since Sept. 2017.
  • All Servicer REAM Deficiency Billing System (SRDBS) users have automatic access to Fannie Mae Invoicing using the same credentials.
  • Technology Manager Administrators can request access to Fannie Mae Invoicing for servicers via Technology Manager.

Ready to get started? Visit the Fannie Mae Invoicing page to view the user guide, FAQs, and other resources.

Reminder: Notifying document custodians about servicing transfers

After Fannie Mae has approved a servicer’s Form 629: Request for Approval of Servicing or Subservicing Transfer, the transferor servicer or the transferee servicer must notify their document custodians of the servicing transfer. A final list of all transferred loans must be included with the notification. Please note: Notification must occur even if the document custodian does not change. Review the list of active document custodians.

Join us at these upcoming events:

  • Feb. 6-7 | Texas MBA Southern Secondary Market Conference | Houston
  • Feb. 6-9 | MBA National Mortgage Servicing Conference & Expo | Grapevine, TX
  • Feb. 11-13 | The Mortgage Collaborative Winter Conference | San Diego

View more events.

You may also be interested in…

Early adopter turned eMortgage evangelist: An interview with Mid America’s Jeff Bode
In just three months, Mid America has recouped the cost of implementing its digital closing process. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

We’ve updated our Selling Guide. Get a rundown of the updates in this short video. And you can access the full Selling Guide here:
http://bit.ly/2BEnuSg

Jan. 31

@kairyssdal of @Marketplace interviewed our CEO Tim Mayopoulos to discuss what we do, the state of the American housing industry, and much more. Tune in:
http://bit.ly/2BEbWyi

Jan. 30

Source: Fannie Mae

Fannie Mae: Investor Reporting Changes May Reduce Fatal Edits; Updated Servicer Expense Reimbursement Job Aid; and More

Posted on by Safeguard

Investor Update
February 21, 2018

Investor Reporting system changes may reduce fatal edits

Effective April 4, Fannie Mae’s Investor Reporting system will be updated to accept more closed delinquency modifications under certain scenarios. This will result in reduced fatal edits for servicers. See the Feb. 20 release notes for additional information, and visit the Investor Reporting page for resources, including the Remitting Calendar.

Updates to the Servicer Expense Reimbursement Job Aid

Because the LoanSphere Invoicing™ release has been delayed, we’ve updated the implementation timeframes for the new post-payment review queue and the non-recoverable indicator in the Servicer Expense Reimbursement Job Aid. Visit the Servicer Expense Reimbursement page to view the updated job aid and other resources related to LoanSphere Invoicing.

Join us at these upcoming events:

Feb. 25-28 | ABA National Conference for Community Bankers | Honolulu
March 4-7 | Lenders One Winter Conference | Scottsdale, AZ
March 13-17 | ICBA Community Banking Live 2018 | Las Vegas

View more events.

You may also be interested in…

Searching for answers on the lack of affordable housing supply
A recent symposium in Los Angeles is one of several planned to discuss how to increase the supply of affordable housing in California, and nationwide. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

A new study finds that many Americans lack confidence in various institutions to safeguard and protect their digital personal information. Read more in our new Perspectives blog:
http://bit.ly/2BILyH0

Feb. 20

Long-term interest rates are rising and markets have been volatile. But @D2_Duncan is sticking with his forecast for 2.7 percent real GDP growth in 2018.
http://bit.ly/2BC8ub7

Feb. 20

Source: Fannie Mae

Fannie Mae: Drop by THE HUB at MBA Servicing Conference; Fannie Mae Connect Makes Downloads a Breeze; and More

Posted on by Safeguard

Investor Update
February 7, 2018

Building on our promise to bring simplicity and certainty to servicing

During this week’s MBA National Mortgage Servicing Conference & Expo, we’re sharing our innovative solutions for near real-time access to master servicing data, a one and done approach to claims processing, and more. Learn how our Simplifying Servicing journey continues by dropping by our booth in THE HUB or visiting www.simplifyingservicing.com.

Fannie Mae Connect makes downloads a breeze

Over the weekend of Feb. 3, we added new reports and improved the user interface in Fannie Mae Connect™ to help you better access the information you need to drive your business.

Fannie Mae Connect is making repeating downloads a breeze by remembering the last set of criteria you entered. Prefilled Seller/Servicer information, report section, and report format will make downloading even easier than before.

We’ve also launched three new reports and enhanced others. Review the Release Tracker and Report Directory for more information on these and all the latest changes in Fannie Mae Connect. If you do not have access to Fannie Mae Connect, please contact your Corporate Administrator.

Descriptions of all 300 series remittance CRS codes

As a component of Simplifying Servicing, last year we updated the Cash Remittance System (CRS) remittance codes. A complete list of the CRS 300 series code names and descriptions is available on the CRS page.

Lenders embrace benefits of data initiatives

Data standardization efforts are critical as the mortgage industry moves toward a more digitized world. According to a new study by our Economic & Strategic Research team, 74% of lenders surveyed believe that recent new initiatives, including the Uniform Loan Delivery Dataset (ULDD) and the Uniform Closing Dataset (UCD), are valuable. Learn more.

Join us at these upcoming events:

  • Feb. 11-13 | The Mortgage Collaborative Winter Conference | San Diego
  • Feb. 11-14 | CalyxVision 18 User Conference | San Francisco
  • Feb. 14-16 | MBA of Florida’s Eastern Secondary Market Conference | Orlando

View more events.

You may also be interested in…

View: Symposium on the affordable housing supply crisis in California
Housing industry leaders met Feb. 5 in Los Angeles to discuss the impact of California’s housing supply on affordable housing. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

Don’t miss these sessions at #MBAServicing18! We’re thrilled to be here, talking with you about the future of servicing.

Feb. 7

New #HPSI hits all-time high as more Americans expect home prices to rise over the next 12 months:
http://bit.ly/2Em4kpH

Feb. 7

Source: Fannie Mae

Fannie Mae: Announcement SVC-2018-01: Servicing Guide Updates

Posted on by Safeguard

Investor Update
February 14, 2018

The Fannie Mae Servicing Guide has been updated with changes that:

  • Identify the conditions in which Fannie Mae will approve a first lien charge-off and lien release for delinquent first lien mortgage loans to help maintain neighborhood conditions and home prices.
  • Remove the requirement for servicers to include a Social Security number in REOgram or non-delegated workout submission to protect sensitive borrower data.
  • Streamline the Selling and Servicing Guides by removing certain topics from Servicing Guide Part A pertaining to compliance with laws and responsible, questionable, and prohibited lender practices. These topics will be updated and included in the Selling Guide on Feb. 27.

For a summary of key updates in Servicing Guide Announcement SVC-2018-01, view the executive perspectives video presented by Jenise Hight, Director of Servicing Policy, and the executive overview from Carlos Perez, Chief Credit Officer for Single-Family.

New Disaster Relief FAQs

The Disaster Relief – Single-Family Selling/Servicing Frequently Asked Questions (FAQs) have been updated to provide information for servicers when reviewing a borrower for a Fannie Mae disaster mortgage loan modification. New topics include:

  • Clarifying when to re-amortize the loan for a Fannie Mae Extend Modification for Disaster Relief.
  • Determining the terms for a Fannie Mae Cap and Extend Modification for Disaster Relief when the pre-disaster payment is achieved before the servicer has extended the term.
  • Addressing that a borrower’s failure of a Trial Period Plan, or permanent modification, for a Fannie Mae Cap and Extend Modification for Disaster Relief or Extend Modification for Disaster Relief, does not count as a prior modification in the context of eligibility for a Flex Modification.

Visit our Assistance in Disasters page to find more resources for helping borrowers in disaster areas.

See how we’re Simplifying Servicing. Together.

Building on our promise to bring simplicity and certainty to servicing, during last week’s MBA National Mortgage Servicing Conference & Expo, we shared how we are delivering streamlined and value-driven servicing solutions. Missed us at the conference? Check out the Simplifying Servicing website for details on our innovative solutions for near real-time access to master servicing data, a one and done approach to claims processing, and more.

Enhancements to SMDU coming this weekend

This weekend, Fannie Mae will implement enhancements to Servicing Management Default Underwriter™ (SMDU™). Please refer to the release notes for more information. As a reminder, to implement this release, SMDU will be unavailable to process transactions from 10 p.m. ET on Friday, Feb. 16 until 3 p.m. ET on Saturday, Feb. 17. If you have questions about this release, please contact your Fannie Mae Servicing Account Manager.

Join us at these upcoming events:

Feb. 24-28 | American Bankers Association National Conference for Community Bankers | Honolulu
March 4-7 | Lenders One Winter Conference | Scottsdale, AZ
March 13-17 | ICBA Community Banking Live 2018 | Las Vegas

View more events.

You may also be interested in…

Fannie Mae seeks innovators for partnership opportunities
Fannie Mae seeks to play a role in helping innovators solve mortgage industry challenges. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

Our 2017 results demonstrate that the fundamentals of our business are strong.
http://bit.ly/2Bu18Gz

Feb. 14

Congratulations to our very own Tim Mayopoulos and Jonathan Lawless! Both (have) made @MPAMagazineUS’s Hot 100 List, which recognizes the mortgage industry’s top leaders.
http://bit.ly/2BtdLlp

Feb. 13

Source: Fannie Mae

CFPB Issues Request For Information on Supervision Processes

Posted on by Safeguard

Investor Update
February 14, 2018

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (Bureau) today issued a Request for Information (RFI) about the Bureau’s supervision processes. The Bureau is seeking comments and information from interested parties to assist in assessing the overall efficiency and effectiveness of its supervision program and whether any changes to the program would be appropriate. This is the fourth in a series of RFIs announced as part of Acting Director Mick Mulvaney’s call for evidence to ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers. This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities. The next RFI in the series will address the Bureau’s external engagement processes, and will be issued next week.

The RFI on supervision processes is available at:
https://files.consumerfinance.gov/f/documents/cfpb_rfi_supervision-program_022018.pdf ?                                                                                                                      
The Bureau will begin accepting comments once the RFI is printed in the Federal Register, which is expected to occur on February 20. The RFI will be open for comment for 90 days.

The Bureau anticipates issuing RFIs on the following topics in the coming weeks:

  • External Engagement
  • Complaint Reporting
  • Rulemaking Processes
  • Bureau Rules Not Under §1022(d) Assessment
  • Inherited Rules
  • Guidance and Implementation Support
  • Consumer Education
  • Consumer Inquiries

More information about the call for evidence is available at:
http://www.consumerfinance.gov/policy-compliance/notice-opportunities-comment/open-notices/call-for-evidence/

Source: CFPB