Safeguard Properties

MHA HAMP Update: July 2017 HAMP Reporting System Release Updates & NPL/RPL Reporting Guidance

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Investor Update
April 27, 2017

HAMP Reporting System Release Notes

On June 24, 2017 the HAMP Reporting System, including the HAMP Reporting Tool, will receive the following updates:

  • Updates to Servicing Transfer Deal Setup Edits
  • Remodifications of Treasury FHA-HAMP Loans

Refer to the Release Notes for more information about these enhancements.

Updated Data Dictionaries Posted

In connection with the upcoming HAMP Reporting System release, updated versions of the following Data Dictionaries were posted on HMPadmin.com:

  • Treasury FHA-HAMP Data Dictionary – 07/01/2017 Release
  • RD-HAMP Data Dictionary – 07/01/2017 Release

Reporting Guidance for Active GSE HAMP Loans in a NPL or RPL Sale

On April 14, 2017 Treasury released Supplemental Directive 17-01 that included guidance for Non-Performing (NPL) and Re-Performing (RPL) loan sales of GSE HAMP loans. HAMP Reporting Guidance for NPL and RPL is now available and can be found within the Data Reporting tab, under the Reporting Requirements section on the secure side of HMPadmin.com (login required).

  • Reporting Guidance for Active GSE HAMP Loans in a NPL or RPL Sale

Questions? 
Email the HAMP Solution Center or call 1-866-939-4469.

Source: MHA

MHA HAMP Update: HAMP Reporting Tool Security Update

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Investor Update
April 25, 2017

As part of our ongoing effort to provide high levels of security, Black Knight Data & Analytics will implement necessary security settings on the HAMP servers. This is in response to required changes to internet security protocols for Transport Layer Security (TLS). These changes will occur in the Servicer Test environment Thursday, May 18, 2017 from approximately 8:00pm ET to Friday, May 19, 2017 10:30am ET, and then in the Production environment on Sunday, May 28, 2017 from 6:00am ET to 12:00pm ET.

This will affect users’ ability to access the HAMP Reporting Tool. It is strongly recommended that users update their internet browsers to the most current version and ensure all security patches have been applied.

What is the impact for users?
Users of older browsers (Internet Explorer (IE) 6 and lower versions) and older operating systems (Windows XP and lower versions) will no longer be able to access the HAMP Reporting Tool web site.

What must I do?
Upgrade the operating system on your computer to at least Windows 7 or a later version. Upgrade your browser to at least IE 7.

we appreciate your understanding and cooperation as we strive to continually enhance your experience.

Questions?
Call 1-866-939-4469: select option 1, then option 5 for Black Knight Financial Services (BKFS).

Source: MHA

MHA HAMP Reporting Update: HMPadmin.com Site Availability and Updated MHA Duplicate Borrower Process Documents Posted

Posted on by Safeguard

Investor Update
April 12, 2017

HMPadmin.com Unavailable Saturday, April 22, 2017
HMPadmin.com will be unavailable Saturday, April 22, 2017 from 8:00 a.m. ET through 8:00 p.m. ET for routine maintenance. Servicers will be unable to access the NPV Transaction Portal through HMPadmin.com during this time.

Updated MHA Duplicate Borrower Process Documents Available on HMPadmin.com
The following updated MHA Duplicate Borrower Process Documents are now available on HMPadmin.com:

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

source: MHA

Freddie Mac: Servicer Success Scorecard Training Course

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Investor Update
April 17, 2017

Training Catalog: Course Description

Course: Freddie Mac’s New Servicer Success Scorecard
       
Description:    

This 2-hour webinar introduces Freddie Mac’s new Servicer Success Scorecard with its user-friendly design for 2017. The simplified, easy-to-navigate scorecard is your key source to track and improve your servicing performance. Join our discussion and learn about the new and revised scorecard metrics for default management and investor reporting, rank group transparency, trend performance analysis, pass/fail performance indicators, the revised ranking methodology and much more. If you are responsible for the success of your Freddie Mac servicing performance, this webinar is designed for you.

Prerequisites:  

  • This session is for employees of approved Freddie Mac Servicers only
  • Course materials will be e-mailed to attendees prior to the start of the session

Objectives:    

Understand how to navigate and read the new 2017 Servicer Success Scorecard in order to enhance your servicing of Freddie Mac-owned mortgages.
  
Topics:  

  • Understand how to access your 2017 Scorecard
  • Become familiar with the redesigned format of your 2017 Scorecard
  • Learn to navigate the new Scorecard application
  • Gain an understanding of the new and revised metrics
  • Become informed of the revised ranking methodology

Session times show Eastern Time zone

Course Availability

Source: Freddie Mac

FHLMC Guide Bulletin 2017-5: Servicing Updates

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Investor Update
April 20, 2017

In today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-5, we’re announcing certificate of incumbency (COI) requirements for Servicers and making a number of improvements to our reimbursement requirements.

Certificate of Incumbency

We’re updating the Guide to require that Servicers complete a COI, which identifies Servicer employees authorized to provide or change funds transfer instructions for payments from Freddie Mac. The applicable COI form and related documents must be submitted to Freddie Mac, and accepted, no later than December 31, 2017. While the deadline to complete the COI requirements isn’t until December, you can start submitting the applicable COI form and documents as early as June 1, 2017.

NOTE: If you’ve already submitted a COI form as a Freddie Mac Seller, then you do not need to submit a new COI form at this time, unless you’re updating the information on your COI form or your renewal COI is due. Any COI renewal and/or any COI changes submitted on and after June 1, 2017, must be submitted on the new COI forms announced in this Bulletin.

Updates to Reimbursement

We’re updating our reimbursement requirements to increase allowable limits for certain attorney fees in all 50 jurisdictions. This is effective for reimbursement claims submitted in the Freddie Mac Reimbursement System on and after March 31, 2017.

Other updates include:

  • Attorney fees associated with bulk trials in New York will be reimbursed up to $1,750.
  • Greater detail for requesting reimbursement for certain unrecoverable expenses.
  • Reimbursement for expenses associated with clear boarding broken windows in vacant or abandoned foreclosed properties with clear polycarbonate.

For more details on these and other changes, please read Guide Bulletin 2017-5  [pdf].

For More Information

Source: Freddie Mac

FHLMC Guide Bulletin 2017-4: Incorporating Investor Reporting Changes

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Investor Update
April 12, 2017

In today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-4, we’re incorporating changes associated with our Investor Reporting Change Initiative into the Guide, including implementation dates and comprehensive updates to sections/chapters. As announced on March 23, 2017, we’ve extended the implementation date to May 1, 2019.

Key Highlights: More Building Blocks

Today’s announcement provides:

  • A policy-oriented narrative to further help you incorporate the investor reporting changes into your existing policies and procedures.
  • New details on our data cutover strategy, retirement of existing remittance types, and drafting requirements.
    In a future Guide Bulletin, we’ll provide information on recertifying your custodial accounts, cutover conversion and any other necessary details to ensure a smooth transition and implementation.

FYI: Minor Updates to Requirements and New Visual Resource
In response to your feedback, we’ve made some minor edits to our business requirements [PDF] and technical specifications [PDF] for clarification purposes. Please read the respective “Revision History” sections in the documents for more information.

Also, check out our new Future State Overview [PDF] visual for a snapshot example of our future monthly investor reporting processes. You can refer to our business requirements for information on different scenarios.

For More Information

Source: Freddie Mac

FHFA: Foreclosure Prevention Report – January 2017

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Investor Update
April 12, 2017

January 2017 Highlights

The Enterprises’ Foreclosure Prevention Actions:

  • The Enterprises completed 14,558 foreclosure prevention actions in January 2017, bringing the total to 3,847,918 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
  • There were 9,405 permanent loan modifications in January, bringing the total to 2,031,726 since the conservatorships began in September 2008.
  • The share of modifications with principal forbearance decreased to 19 percent during the month. Modifications with extend-term only increased to 44 percent due to continuing improvement in house prices.
  • There were 1,615 short sales and deeds-in-lieu completed in January, down 5 percent compared with December.

The Enterprises’ Mortgage Performance:

  • The serious delinquency rate remained flat at 1.12 percent at the end of January.

The Enterprises’ Foreclosures:

  • Third-party and foreclosure sales increased 16 percent from 5,764 in December to 6,705 in January.
  • Foreclosure starts increased 10 percent from 15,133 in December to 16,604 in January.

Attachments: 

Foreclosure Prevention Report – January 2017

Source: FHFA

FHFA February 2017 Refinance Report

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Investor Update
April 13, 2017

?February 2017 Highlights

Total refinance volume fell in February 2017 as mortgage rates in January remained over half a percent higher than the levels observed in November 2016. Mortgage rates increased in February: the average interest rate on a 30?year fixed rate mortgage rose to 4.17 percent from 4.15 percent in January.

In February 2017:

  • Borrowers completed 4,198 refinances through HARP, bringing total refinances from the inception of the program to 3,456,422.
  • HARP volume represented 3 percent of total refinance volume.
  • Six percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.

Year to date through February 2017:

  • Borrowers with loan?to?value ratios greater than 105 percent  accounted for 18 percent of the volume of HARP loans.
  • Twenty three percent of HARP refinances for underwater borrowers were for shorter?term 15? and 20?year mortgages, which build equity faster than traditional 30?year mortgages.
  • HARP refinances represented 6 or more percent of total refinances in Nevada and Florida, double the 3 percent of total  refinances nationwide over the same period.

Borrowers who refinanced through HARP had a lower delinquency  rate compared to borrowers eligible for HARP who did not refinance  through the program.

Ten states accounted for over 60 percent of the nation’s HARP eligible loans with a refinance incentive as of September 30, 2016.
 
Attachments: 

Refinance Report – February 2017

Source: FHFA

Fannie Mae: Simpler Invoicing and AMN/HSSN Enhancements Coming Soon

Posted on by Safeguard

Investor Update
April 26, 2017

Want simpler invoicing? We heard you

A new invoicing system is on its way! The system will provide a simple, enhanced web-based portal for servicers to access consolidated loan-level invoices, resolve claims, add/retrieve documentation, and communicate with Fannie Mae operations teams. Targeted to launch in the third quarter of 2017, this new application will replace several manual processes used currently, in addition to retiring the Servicer REAM Deficiency Billing System (SRDBS). Details about this release will be provided in the coming weeks.

Learn more about how we are Simplifying Servicing™.

AMN/HSSN enhancements coming in May

During the weekend of May 20, we will implement a release to update and enhance the Asset Management Network (AMN)/HomeSaver Solutions™ Network (HSSN). Changes include enhancements to support the new Flex Modification program and general updates to the HSSN Short Sale and Mortgage Release (Deed in Lieu). During implementation of this release, AMN/HSSN will be unavailable for processing from 7 a.m. ET on May 20, until 7 a.m. ET on May 21. SMDU Case Management will also be down during this time. Due to related work, SMDU Auto Decision functionality may experience intermittent outages during this period. If you experience an exception, please wait a few minutes before resubmitting. For details, refer to the Release Notes.  

You may also be interested in…

Neighborhood decline reversed through inventive refinance program
The Illinois Housing Development Authority, Fannie Mae, and U.S. Bank partner for I-Refi’s $50,000 in household assistance. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

Announcing new solutions for borrowers to pay down student debt, overcome debt related obstacles when buying a home:
http://bit.ly/2qaNteL

April 25
 
Have you seen @D2_Duncan’s new Econ. & Housing Outlook? Get the latest:
http://bit.ly/2paYBuI

April 23

Source: Fannie Mae

Fannie Mae: LoanSphere Invoicing Enhancements; Join Us at MBA Secondary

Posted on by Safeguard

Investor Update
April 19, 2017

LoanSphere Invoicing enhancements coming April 30

Effective April 30, we will update the LoanSphere Invoicing™ system. Changes include updates to the mapping capability of the Create Invoice Line Item to Fannie Mae Claim Line Item, Pending Submitter Review (formerly Pending Servicer Review), and the auto-population of the referral date for foreclosure attorney fees, where applicable. Refer to the Release Notes for details. For more information, visit the Expense Reimbursement page. 

Don’t miss Andrew and Doug’s sessions at MBA Secondary

Mark your calendar to attend these key sessions at the MBA’s National Secondary Market Conference & Expo 2017:

Andrew Bon Salle, Executive Vice President, Single-Family Business
A Conversation with GSE Leadership. May 2, 9-10 a.m.
Hear Andrew’s insights on hot industry topics during this interactive discussion.

Doug Duncan, Chief Economist
Economic Outlook. May 2, 10:30-11:45 a.m.
Find out how Doug’s thoughts on the economy, housing, and mortgage market compare to those of chief economists from the MBA and Freddie Mac.

And make sure you stop by and see us in the Manhattan Ballroom, 8th floor. Not registered yet? Click here or on the banner below.

Did you hear? We’re Simplifying Servicing!

Fannie Mae is Simplifying Servicing™ across the servicing lifecycle. Whether it’s technology, policy, or operations, we’re working to simplify the process for our customers and driving toward a clear vision for the future. Learn more about the many ways we’re Simplifying Servicing for our customers.

Join us at these upcoming events:

April 20-22 | NAREB Midwest Regional Conference | Cleveland, OH
April 30-May 3 | MBA’s National Secondary Market Conference & Expo | New York, NY
May 2-5 | MHI National Congress & Expo | Las Vegas, NV

View more events.

You may also be interested in…

Neighborhood decline reversed through inventive refinance program
The Illinois Housing Development Authority, Fannie Mae, and U.S. Bank partner for I-Refi’s $50,000 in household assistance. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

Find out what it’s like to work in the #HeartofHousing:
http://bit.ly/2oRpXWN

April 18
 
Will it be a busy spring #homebuying season? @D2_Duncan offers his thoughts in the April #Economy & Housing Outlook:
http://bit.ly/2onW0cU

April 17

Source: Fannie Mae