All Client Alerts
Keeping ahead of frequent industry changes is essential for mortgage servicers. Falling behind is not an option. Failure to comply with changes in regulations, legislation, guidelines and other issues can be costly and time-consuming.
This is why Safeguard provides its “All Client Alert” email newsletter, designed to keep you informed as changes occur.
Click here to subscribe to Safeguard’s “All Client Alert.”
- HUD Directive to Eliminate Lead-Based Paint Hazards
- December 30th, 2003
- This Notice cancels Housing Notice 01-01 and implements the
requirements and terminology
established by the Residential Lead-Based Paint Hazard Reduction Act of
1992 (Title X of the Housing and Community Development Act of 1992) and
the lead-based paint regulations (the Lead Safe Housing Rule) at 24 CFR
Part 35, Subpart F. The regulations establish procedures to
eliminate lead-based paint hazards in HUD-owned single-family properties
built before 1978 that are sold with Federal Housing Administration (FHA)
insured mortgages (including 203(b) and 203(k) loans).
- HUD Persists on FHA Accountability Rules
- December 29th, 2003
- The Department of Housing and Urban Development is sticking to
its agenda of making Federal Housing Administration lenders more
accountable for the performance of the loans they originate. On
Christmas Eve, HUD sent to the Office of Management and Budget a
final rule that would make lenders accountable for the quality of
the appraisals they use in approving FHA single-family loans. The
OMB reviews and clears all regulations before they can be published
in the Federal Register .
- VA Information Bulletin NO 26-04-01
- December 29th, 2003
- Click to view Bulletin NO 26-04-01 St. Petersburg
release from the VA regarding the Ocwen transition for:
Alabama, Mississippi, and Florida.
- Fannie Mae Addresses Bankruptcy-Related Matters, Delivery Data, and Subordinate Financing
- December 19th, 2003
- Requires servicers to proactively monitor bankruptcy filings to
identify bankruptcies at the time a borrower actually files the
bankruptcy and introduces allowable timelines within which we
expect bankruptcy proceedings to be completed. Reminds lenders of
Fannie Mae's data reporting requirements and clarifies requirements
for lenders to resubordinate existing liens when refinancing
original loans.
- VA Loan Guaranty Letter 26-03-14 and 26-03-17
- December 18th, 2003
- Please see the following two releases
from the VA related to the Ocwen Transition.
- HUD ML 2003-19 Partial Claims: Program Changes and Updates ML 2003-20
- December 1st, 2003
- MORTGAGEE LETTER
2003-19: The purpose of this Mortgagee Letter is
to remind mortgagees of the proper use of the partial claim as a
loss mitigation tool for defaulted FHA mortgagors, and to introduce
several changes in the partial claim program which
include...