Fannie Mae Servicing Policy Update: Updates to Recent Imminent Default Indicator (IDI) Guidance
March 2nd, 2010
Fannie Mae has issued the following
Servicing Policy Update titled, Updates to Recent Imminent Default Indicator (IDI) Guidance
Updates to Recent Imminent Default Indicator (IDI) Guidance
Fannie Mae recently issued Announcement SVC-2010-02 : Update to Imminent Default Guidance for Mortgage Loans Evaluated for the Home Affordable Modification Program, which introduced the use of the Freddie Mac Imminent Default Indicator™ (IDI) and described changes to Fannie Mae servicers' use of IDI when evaluating loans under the Home Affordable Mortgage Program (HAMP). This Announcement also mandated that Fannie Mae servicers that are also required by other investors to implement IDI on March 1, 2010 do so on the same date, with all other servicers having to implement as soon as possible but not later than June 1, 2010.
Please note the following updates:
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.