Archives For: servicing guide
Fannie Mae updated its Servicing Guide to broaden the requirements for acceptance of mortgage assistance funds, introduce a new process for filing conventional mortgage insurance claims in the new MI Claims Portal and to simplify the REOgram™ notification process.
14 Jul 2021
Fannie Mae updated its Servicing Guide to include a number of relevant changes impacting mortgage servicers.
9 Jun 2021
Fannie Mae updated its Servicing Guide to include a number of relevant updates impacting mortgage servicers.
10 Mar 2021
Fannie Mae updated its Servicing Guide to incorporate LL-2020-13 (extends automatic reclassification triggers from four to 24 months for most delinquent MBS mortgage loans), and eliminate the requirement for reporting a delinquency status code for a disaster payment deferral if the mortgage loan is brought current. Updated policies on remote online notarizations for the purpose of servicing or modifying a mortgage loan also have been included.
20 Jan 2021
Fannie Mae announced that it is removing the property-level earthquake insurance requirement on mortgage loans on all Puerto Rico properties and on Guam properties constructed of masonry.
9 Dec 2020
Fannie Mae issued a release announcing updates to its Disaster Payment Deferral as well as miscellaneous revisions to terminology covering various topics.
10 Nov 2020
Fannie Mae issued a release announcing updates to its Valuation Management System Valuation Order template, Evaluation Notices and payment deferral agreement.
14 Oct 2020
Fannie Mae issued an update that revises the allowable foreclosure attorney fees for Hawaii, incorporates disaster payment deferral policy and references to payment deferral, updates the authority to offer an initial forbearance plan of up to three months without achieving quality right party contact in connection with a disaster event, and removes outdated references to master agreements.
9 Sep 2020
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 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