Fannie, Freddie align servicing guidelines for delinquent mortgages

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On October 11, Fannie Mae issued Servicing Guide Announcement SVC-2013-20 and Freddie Mac issued Bulletin 2013-21 to update their delinquency management and default prevention servicing requirements in response to the CFPB’s new mortgage servicing rules.

Commentary: FAS 140, Bloomberg Columnists, and the Truth Revenge of the Nerds: QSPEs an Endangered Species. The MBA had argued that servicers could not capably take on FAS 114 assessments in light of the number of loans involved. By all media accounts, the FASB board didn’t just turn down the request — they pretty much shafted it, and got snarky in the process.

April 15, 2015, Fannie Mae issued Ann. SVC-2015-06: Miscellaneous Servicing Policy Changes. Fannie Mae is amending its policies and requirements related to the following: Processing Additional Principal Payments for Delinquent Mortgage Loans Accepting Funds from Hardest-Hit Fund (HHF) Programs and housing finance agencies (hfa) Processing a Partial Reinstatement During Foreclosure.

 · The primary function of Fannie Mae and Freddie Mac is to provide liquidity to the nation’s mortgage finance system. Fannie and Freddie purchase home loans.

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Building off of the Federal Housing Finance Agency’s previously announced initiative to align Fannie Mae’s and Freddie Mac’s servicing guidelines, Fannie Mae issued two wide-reaching announcements to its servicers on Monday. The guidance covers new foreclosure time frames and a glut of borrower-outreach and delinquency-management protocols.

Servicing Guide Announcement SVC-2017-04 May 10, 2017. In addition, in alignment with Freddie Mac at the direction of FHFA, the Servicing Guide has been updated with new. bankruptcy mortgage loan modification, Servicing Guide F-2-02, Incentive Fees for Workout Options,

Communicating with Borrowers: Collections and Loss Mitigation Reference Guide viable option. Effective February 1, 2018, you must evaluate the borrower for a Freddie Mac Extend Modification for Disaster Relief ("Extend Modification") – (not included in the graphic above) as provided in Bulletin 2017-25, if

FHFA says the new approach is in line with the Servicing Alignment Initiative that has been rolled out by Fannie and Freddie. mortgages and processing foreclosures. ""FHFA believes these efforts.

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Fannie’s Servicing Guide has been. is fast approaching. For loans with a Note Date on or after September 25, 2017, both Fannie and Freddie will require a successful UCD response before any loan may.

 · Like Freddie Mac, Fannie Mae has prepared some updates of its own. The company release a new servicing guide filled with announcements for the.