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Fannie Mae Servicing News to be Aware of For Mid-August 2018

August 16, 2018

Fannie Mae recently released its servicing news for mid-August 2018 and it contains some pretty important and quality-of-life changes. These changes include Servicing Guide updates that will help simply mortgage insurance claims.

 

According to the report, updates to the Servicing Guide include:

  • Streamline the mortgage insurance (MI) claims process with MI Factor, a new approach to mortgage insurance that makes it easier to file claims and eliminates the need for supplemental filings.

  • Clarify our policies on inspecting and preserving properties impacted by a disaster. See the Property Preservation Matrix and Reference Guide for more details.

  • Increase the maximum reimbursement limit for insured loss repair inspections from $30 to $60.

For a full breakdown of the updates made to the Servicing Guide, click here.

 

The company has also introduced a new seller/servicer reporting calendar to help prevent professionals from missing guidelines and not uploading crucial documents to meet deadlines.

 

To learn more about these quality-of-life updates and more, click on the image above.

 

 

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