Fannie Mae Servicing Policy Update: MBS Trust Delinquent Loan Purchase Details and Reclassification
March 5th, 2010
Fannie Mae has issued the following
Servicing Policy Update titled,MBS Trust Delinquent Loan Purchase Details and Reclassification Guide Announcement.
Servicing Policy Update: MBS Trust Delinquent Loan Purchase Details and Reclassification Guide Announcement
Fannie Mae has issued the following Announcement:
Three weeks ago on February 10, 2010, Fannie Mae announced its intention to significantly increase purchases from its Single-Family MBS Trusts of loans that are delinquent by four or more consecutive monthly payments. This week, we are issuing additional details including a news release and Servicing Guide Announcement SVC-2010-04.
The Announcement includes the following key topics.
- Revised HAMP loan reclassification and removal requirements
- Introduction of expedited reimbursement of servicer advances
- Reminder regarding execution of modification agreements
For additional topics and complete details, please see Announcement SVC-2010-04.
To view the online Announcement, please click here.
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.