Safeguard Properties

Fannie Mae: Fannie Mae Connect and LoanSphere Invoicing Enhancements

Posted on by Safeguard

Investor Update
April 5, 2017

Fannie Mae Connect release: Easier to use and new reports

The April 3 release of Fannie Mae Connect™ includes functional enhancements to the user experience and adds new reports to provide lenders with more transparency and analytics around quality assurance and market activities.

New Report

  • Home Purchase Sentiment Index® (HPSI) Dashboard

Updated Reports

  • Servicer Total Achievement & Rewards™ (STAR™) Performance Scorecard
  • Trial Balance

Site Enhancement

  • 13 reports in the Download Center, previously available only in TXT format, are now available for download in XLS.

For details on the release, log in to Fannie Mae Connect and view our latest Release Tracker, and view the Report Directory for report descriptions (both of these documents are available to Fannie Mae Connect users only). For more information on Fannie Mae Connect, including demos, quick tips, and training, visit the Fannie Mae Connect web page.  

LoanSphere Invoicing enhancements coming May 1

As part of our effort to simplify servicing, we’re enhancing LoanSphere Invoicing™. The Pending Submitter Review (PSR) Status, Bankruptcy Attorney’s Fees, and Foreclosure Attorney’s Fees sections are impacted by the updates.

The timeline for enhancements has shifted to May 1. We’ve updated the Servicer Expense Reimbursement Job Aid since the initial March update to accurately reflect the new timeline. Click here for a detailed list of all revised items, and visit the Servicer Expense Reimbursement page for additional training and resources.

Check out the January 2017 Fannie Mae STAR Scorecard

The results for the January 2017 STAR Scorecard are now available on Fannie Mae Connect. For instructions on how to access the Scorecards, along with printing tips, refer to the job aid. If you have any questions, please contact the STAR Team.

You may also be interested in…

Fannie Mae economists uncover hidden strengths in rural areas
Lenders and economists learn about the surprising opportunities and challenges in rural housing markets. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

How can homeownership education be enhanced? New research finds out #financialliteracymonth #SmartHomeownership:
http://bit.ly/2nAeXZz

April 4
 
Despite positive feelings toward econ. & housing, lenders’ profit margin outlook down year-over-year #MLSS:
http://bit.ly/2or5Xuo

April 2
 
Source: Fannie Mae

Fannie Mae: Announcement SVC-2017-03: Servicing Guide Updates

Posted on by Safeguard

Investor Update
April 12, 2017

Announcement SVC-2017-03: Servicing Guide Updates

The Fannie Mae Servicing Guide has been updated to increase the efficiency of your servicing activities. These changes:

  • Bring simplicity to our fee processing requirements by updating Servicing Guide B-5-01, Insured Loss Events, via:
  • Instruction to servicers to refuse borrower payments to public adjusters or third parties from insurance loss proceeds;
  • Revision of the time frame in which servicers must submit Form 176, Report of Property Insurance Loss, to Fannie Mae; and
  • Incorporation of all Form 176 requirements from Servicing Guide F-1-2, Escrow, Taxes, Assessments, and Insurance into Servicing Guide B-5-01.
  • Manage risk by instructing servicers to gain approval from Fannie Mae prior to engaging in arrangements with outsourcing companies or third-party vendors.
  • Provide consistent policy that clarifies that the maximum allowable foreclosure attorney fees apply for the life of the default.
  • Respond to industry feedback to increase the limits of property preservation repair descriptions and expenses to include clearboarding.
  • And more.

Read the Announcement for details. For a summary of key updates in this Servicing Guide Announcement, view the video presented by Jenise Hight, Director of Single-Family Servicing Policy & Solutions. 

AAA matrix updates

We have updated the AAA matrix for Vermont to reflect a change in the excess fee assigned for completion of a Sale Attendance. An excess fee request is necessary only if the foreclosure case closed before December 14, 2016. If the case was still active as of that date, Sale Attendance is included in the updated foreclosure allowable fee. To view the updated matrix, visit the Excess Attorney Fee/Cost Guidelines page.

Improve the customer experience with our dynamic solutions: Visit us at MBA Secondary

Visit us at MBA’s National Secondary Market Conference & Expo, April 30-May 3, in the Manhattan Ballroom, 8th floor. Let’s talk about how Day 1 Certainty and Simplifying Servicing™ help you save time, cut costs, and improve your customer’s experience. Stop by and give us your feedback. We’re listening and constantly innovating to create dynamic solutions that work for you.

Not registered yet? Click here or on the banner below.

Last chance to attend an investor reporting webinar

It’s not too late, one webinar remains. Learn more about Fannie Mae’s recent changes to investor reporting (hot topics and best practices) by attending a live webinar on Thursday, April 20, at 2 p.m. ET. Visit the Changes to Investor Reporting page to register and to find additional resources.

Spanish language resources support servicer outreach

Spanish-speaking borrowers represent one of the fastest-growing segments of the mortgage market. To help servicers work with Spanish-speaking borrowers, we have consolidated Spanish/English loan servicing documents. Available documents include Spanish translations of routine servicing documents as well as borrower notices related to delinquencies, modifications, and foreclosure alternatives. Access the documents on the Spanish Language Resources for Servicers page.

Recent Tweets

Higher prices & expected rate increases cited by consumers as reasons why it’s a bad time to buy a home. New #HPSI:
http://bit.ly/2olajkd

April 10
 
Do your customers know about our HOME by Fannie Mae™ #mobileapp? It’s great for homeowners AND homebuyers.
http://bit.ly/2plaj2O

April 10

Source: Fannie Mae

VALERI Servicer Newsflash

Posted on by Safeguard

Investor Update
March 20, 2017

IMPORTANT INFORMATION
Claims Bulk Upload Template Update – Servicers have the ability to add the unpaid principle balance (UPB) deferment when submitting claims to VA beginning Monday March 20, 2017; therefore a new claim line item – “UPB Deferment” – has been added in the “Other Fees” tab on the claims bulk upload template. The new template will be located at http://www.benefits.va.gov/HOMELOANS/servicers_valeri_guides.asp.

Bankruptcy Attorney Fees –The VALERI Fee Cost Schedule has been revised to reflect the updated Bankruptcy Attorney Fees, which went into effect on 3/9/17. The updated VALERI Fee Cost Schedule is located at http://www.benefits.va.gov/HOMELOANS/servicers_valeri_rules.asp.

DEVELOPMENT UPDATES
On Saturday, March 18, 2017, VALERI Manifest 17.1 will be released. The following system enhancements will be included:

CQ 12218 – Updates the list of required Post Audit documents.
CQ 12200 – Adds two new business rules to the Deed in Lieu Complete event: 1. Total eligible indebtedness must not be within one dollar of the servicer reported net value and 2. Total eligible indebtedness must be greater than UPB.
CQ 12382 – Changes the property state default value in the Transfer Loan feature in the Servicer Web Portal to “Select One” with a dropdown of all states. Also adds an error message when a field does not match the VA required matching criteria.

Source: VA

VA Circular 26-15-30 Change 1: Title Documentation of HOA Matters in Florida

Posted on by Safeguard

Investor Update
March 9, 2017

1. Purpose. The purpose of this Circular is to extend the rescission date of the basic Circular.

2. Therefore, Circular 26-15-30, Change 1 is changed as follows:

Page 2, paragraph 8: Delete “January 1, 2017.” and insert “January 2, 2019.”

By Direction of the Under Secretary for Benefits

Jeffrey F. London
Director, Loan Guaranty Service

Source: VA

Additional Resource:

VA (Circular 26-15-30)

USDA: TRAINING OPPORTUNITY – Loss Mitigation, Property Disposition and Loss Claim Training

Posted on by Safeguard

Investor Update
March 29, 2017

The USDA, Customer Service Center, located in St. Louis Missouri, is providing training sessions to assist all active, participating lenders with Loss Mitigation, Property Disposition and Loss Claim processing.
 
Lenders will be required to complete and remit the Training Registration Form in advance for any and/or all training opportunities. Seating will be limited. All training material will be provided on site. At a glance, below is a list of the training sessions being offered (Full Training Curriculum Schedule):
 
Loss Mitigation Sessions*                         
May 22-23, 2017
August 14-15, 2017

Loss Claim/PDP Sessions*
May 22-23, 2017                                         
August 14-15, 2017                                     
 
*All training session times will be offered during Central Daylight Time and there will be no registration fees or charges for the training session(s).
 
Training Facility Location: 
USDA/RD/Customer Service Center
4300 Goodfellow Blvd.
Building 105
St. Louis, MO 63120
 
Registration Contacts:        

william.wines@stl.usda.gov
coyita.mosley@stl.usda.gov
 
Facility Access
Travel expenses to and from the facility will be the Lender’s responsibility. Access to the facility is restricted without proper clearance (directions from front gate of training facility to designated parking area). Below, please finds a list of requirements/procedures that must be met to gain access to facility:
 
1. The person driving any vehicle on premises must be preregistered and designated as the driver and include a list of all passengers.
2. Each person that will attend the training must be preregistered.
3. Upon arrival, each person will be required to provide one of the following forms of Identification that must include your Picture: a) Valid Pass Port, b) Valid State Driver’s License, c) Valid State Issued ID or d) Valid Military ID.
4. Upon confirmation of attendance, parking assignment and site passes will be issued at the front gate.
5. All persons attending will need to arrive a minimum of 30 minutes prior to the session’s scheduled start time to allow sufficient time for site access.
 
General Travel Guidance
Travel to and from the facility is the responsibility of the Lender. Attendees should ensure that travel to and from the facility is planned to accommodate the start and conclusion of each training session. In addition, sufficient time should be allotted for air travel, depending upon the attendee’s destination. St. Louis offers ample Hotel accommodations near St. Louis Lambert Airport and Downtown St. Louis. Both areas are within approximately 15 minutes of the facility.

Help Resources

Policy Questions
Customer Service Center
Phone: 866-550-5887
Single Family Housing Guaranteed Loan Division
Phone: 202-720-1452
 
USDA ITS Service Desk Support Center
For e-Authentication assistance
Email: eAuthHelpDesk@ftc.usda.gov
Phone: 800-457-3642, option 1 (USDA e-Authentication Issues)
 
Rural Development Help Desk
For GUS system, outage or functionality assistance
Email: RD.HD@STL.USDA.GOV
Phone: 800-457-3642, option 2 (USDA Applications); then option 2 (Rural Development)

Source: USDA

More Consumers Seek Loan Modifications

Posted on by Safeguard

Investor Update
March 20, 2017

In January 2017, an estimated 29,000 homeowners received permanent loan modifications from mortgage servicers during the month according to HOPE NOW, a non-profit alliance of mortgage servicers, investors, counselors, and other mortgage market participants. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). Of the permanent loan modifications performed that month, approximately 20,000 were through proprietary programs while 9,521 were through HAMP. The HAMP program ended officially in December 2016, though servicers will continue to review homeowners who applied before December 31.

Loan modifications increased by 3 percent from December 2016 to January 2017. Total non-foreclosure solutions, such as total loan modifications, short sales, deed in lieu, and workout plans, for January 2017 approximated 102,000, compared to 26,000 foreclosure sales.

Additionally, foreclosure starts and sales saw an increase in those two months. Foreclosure starts jumped from 49,000 in December to 55,000 in January, while foreclosure sales jumped from 20,000 to 26,000 in that same time. HOPE NOW notes that increases in foreclosure starts and sales are typical with their historical data. Although sales and starts are up month-over-month, the year-over-year data saw decreases. Starts are down 4 percent from January 2016, and sales are down 22 percent.

Other non-foreclosure options decreased in January. Short sales dropped from 4,200 in December to 3,700 in January, while the number deed in-lieu stayed at 1,200 in that time. Serious delinquencies are down month-over-month in January, from 1.50 million in December to 1.46 million in January.

“The HOPE NOW Alliance continues to work with homeowners in need and emphasizes on assisting those that are having difficulties with their mortgage,” said HOPE NOW Executive Director Eric Selk.  “Our monthly collection of data indicates that the housing market is improving and setting new norms in the post-crisis environment.”

HOPE NOW will host loss mitigation outreach events in West Palm Beach Florida on April 6 and in Miami on April 8.

Source: DS News

Additional Resource

HOPE NOW (Data Report: January 2017)

MHA HAMP Reporting Update: Updated Data Dictionaries and New MHA Program Milestone Reporting Guidance Job Aid Posted

Posted on by Safeguard

Investor Update
March 30, 2017

Updated Data Dictionaries Posted

In connection with the July 2017 release of the HAMP Reporting System, updated versions of the following Data Dictionaries were posted on HMPadmin.com:

  • HAMP Data Dictionary – 07/01/2017 Release
  • SVT Data Dictionary – 07/01/2017 Release
  • HAMP ADR Data Dictionary – 07/01/2017 Release
  • 2MP Data Dictionary – 07/01/2017 Release
  • HAFA Data Dictionary – 07/01/2017 Release
  • Treasury FHA-HAMP Data Dictionary – 07/01/2017 Release
  • RD-HAMP Data Dictionary – 07/01/2017 Release


MHA Program Milestone Reporting Guidance Job Aid Posted
This job aid provides a reference guide to view program milestones and the associated reporting impacts to Servicers.

  • MHA Program Milestone Reporting Guidance


Questions? 
Email the HAMP Solution Center or call 1-866-939-4469; to reach Black Knight Financial Services (BKFS), select option 1, then option 5.

Source: MHA

MHA HAMP Reporting Update: July 2017 Release Communication Plan Posted

Posted on by Safeguard

Investor Update
March 2, 2017

The communication plan for the July 2017 Release has been posted on the open and secure sides of HMPadmin.com. This plan provides a high-level overview of the upcoming release with key milestones identified.

Please review the July 2017 Release Communication Plan for more details. This plan can be found in the Release Notes tab under the Loan Reporting Documents section on HMPadmin.com.

Questions?
Email the HAMP® Solution Center or call 1-866-939-4469; to reach Black Knight Financial Services (BKFS), select option 1, then option 5.

Source: MHA

Freddie Mac: We’re Making It Easier for You to Reset Your Password

Posted on by Safeguard

Investor Update
March 30, 2017

Starting April 29, we’ll begin introducing a new password reset capability for Single-Family customers who access our tools through our website. This improved, self-service feature allows you to better manage your password and access to Freddie Mac tools and applications.

We’ll deploy the new capability in three phases:

Phase one: April 29, 2017:  Mortgage Insurance Access System

  • (MI Access)
  • Default Fees Appeal System
  • Service Loans
  • F&I Falcon
  • Home Value Explorer®
  • Alternative Collateral Deal Data Collection System
  • Regulatory Compliance
  • Workout Prospector®
  • Dealer Direct
  • Trade Capture
  • Institutional Eligibility

Phase two: May 12, 2017: 

  • Selling System®

Phase three: June 25, 2017 for Loan Advisor Suite® tools: Loan Product Advisor®

  • Loan Collateral Advisor®
  • Loan Quality Advisor®
  • Loan Closing AdvisorSM
  • Loan Coverage Advisor®
  • Business Intelligence

What to Expect

Beginning the day of migration, when you log in to a Freddie Mac tool or application, you’ll be redirected to a Customer Access Administration web page to update your security profile by setting up login security questions. This will allow you to reset a forgotten password yourself or retrieve your user ID, at any time, without having to call Freddie Mac Customer Support.

Please note: If you’re a Loan Product Advisor desktop-to-web or web-to-web customer, when you log in, a modal window will appear with an alert to set up security questions. Once you’ve read the alert, click the “OK” button, then you’ll be redirected to the Customer Access Administration web page to update your security profile by setting up login security questions.

The security profile update is a one-time process, but you’ll be able to modify your information, once it’s entered, at any time. Also, if you’ve updated your profile for a tool during one phase, you won’t need to do it again for a different tool in a later phase. However, if you have multiple user IDs, you’ll have to update your profile for each ID.

For more information, please contact Customer Support (800-FREDDIE).

Source: Freddie Mac

Freddie Mac: Investor Reporting Change Initiative Extended

Posted on by Safeguard

Investor Update
March 23, 2017

In response to your feedback, and with the understanding that the Investor Reporting Change Initiative is a significant effort, we’re extending the implementation date from October 1, 2018, to May 1, 2019.

We’ve listened to you and realize you’re managing competing priorities. We’re providing you with more time for development and to incorporate the investor reporting changes into your policies and procedures. We can only be successful if we work together. An important part of our partnership is listening and, when needed, compromising to ensure a smooth implementation.

Thank you for your continued hard work and collaboration as we move investor reporting closer to an industry standard.

For More Information

  • Contact your Freddie Mac representative.
  • Visit our Investor Reporting Change Initiative web page.

Source: Freddie Mac