Fannie Mae Issues January 3 Servicing News Updates

January 4, 2018

 

Fannie Mae released its January 3 Servicing News updates and it features a few key developments that mortgage professionals should be aware of. These updates include, extend mod for disaster relief, an update on excess attorney foreclosure fees for select states and U.S. territories, line item updates and more.

 

"Additional relief to borrowers impacted by natural disasters is available in the new Extend Modification for Disaster Relief, which brings an eligible borrower's loan current without having to incorporate capitalization," according to the report. 

 

"This new modification type was implemented in Servicing Management Default Underwriter (SMDU) on Nov. 18, 2017, and servicers are required to evaluate borrowers for the Extend Modification for Disaster Relief no later than Feb. 1, 2018."

 

In addition to the disaster relief extend mod, the company also mentioned that there are updates to the excess attorney foreclosure fees specifically for Florida, Texas, Georgia, Puerto Rico and the U.S. Virgin Islands.

 

For a more in-depth look at these updates, click on the image above.

 

Share on Facebook
Share on Twitter
Please reload

Recent Posts

Please reload

Featured Posts

Gateway First Bank Expands With 34 New Mortgages Centers Across The Country

January 8, 2020

1/8
Please reload

Follow Us

  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey Facebook Icon
  • Grey Twitter Icon
Subscribe

 Stay updated on the latest news, tips, and event info in the mortgage industry. 

© American Business Media, LLC.