Archives For: Fannie Mae
Fannie Mae: SVC-2020-03: Servicing Guide Updates
Fannie Mae issued a release announcing updates that simplify loss draft disbursement policies while balancing risk, revise post-disaster credit reporting requirements, authorize servicers to not send a payment reminder notice to borrowers in an active forbearance plan, and encourage servicers to make borrowers aware of the Disaster Response Network.
15 Jul 2020
Fannie Mae: AAA Matrix Update – July 2020
Fannie Mae announced that as of July 1, 2020, the fee amount for the Case Management Hearing – Illinois Administrative Order – SP37 Standard Excess Fee has been updated in the Illinois Attorney Authorization Approval matrix.
15 Jul 2020
Fannie Mae: AAA Matrix Update – June 2020
Fannie Mae announced that nine AAA matrices have been updated effective June 17, 2020. The announcement reflects a detailed list of updates made by jurisdiction.
17 Jun 2020
Fannie Mae: SVC-2020-02: Servicing Guide Update
Fannie Mae issued a release announcing a number of updates relevant to servicers. Included are changes to pre-modification housing expense-to-income ratio calculation for imminent default and cash contribution, updated instructions to servicers regarding escrow shortages that are part of the full monthly contractual payment, and an update to the Mortgage Assistance Application (Form 710).
10 Jun 2020
Fannie Mae: LoanSphere Invoicing Line Item Consolidation
Fannie Mae announced that in an effort to streamline servicer submissions for Grass Cut (Property Services) and Attorney Fee expenses, multiple subcategories will be deactivated in LoanSphere Invoicing and new sub-categories will be delivered, effective Aug. 1, 2020. This change will result in a net reduction of 28 subcategories.
3 Jun 2020
FHFA: Non-performing Loan Sales Report – December 2019
The Federal Housing Finance Agency (FHFA) released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac.
1 Jun 2020
Fannie Mae: AAA Matrix Update – March 2020
Fannie Mae announced that all AAA matrices have been updated effective March 18, 2020. The announcement reflects a detailed list of updates made by jurisdiction.
18 Mar 2020
FHFA: Evaluation Criteria Strengthened for Duty to Serve Program
The Federal Housing Finance Agency (FHFA) announced that it is strengthening the evaluation criteria of the Duty to Serve Underserved Markets program through the Evaluation Guidance for Fannie Mae and Freddie Mac.
11 Mar 2020
Fannie Mae: Reminder of Servicing Policy to Assist Borrowers Impacted by Coronavirus
Fannie Mae issued a reminder to servicers that forbearance is an option (in accordance with existing policies) to assist borrowers impacted by a temporary hardship.
5 Mar 2020
Fannie Mae: SVC-2020-01: Servicing Guide Update
Fannie Mae announced updates relevant to servicers. Included are revisions to the foreclosure milestone schedule, the elimination of prorated foreclosure fee requirements, and clarification regarding delinquency exception reporting.
12 Feb 2020