Fannie Mae Servicing Notice
June 15th, 2010
Fannie Mae issued a Servicing Policing Update titled, Extension of HOPE NOW Alliance Borrower Counseling Reimbursement
Extension of HOPE NOW Alliance Borrower Counseling Reimbursement
Fannie Mae has been providing reimbursement to servicers who pay counseling fees on behalf of borrowers to support delinquency resolution through the HOPE NOW Alliance. The purpose of this Notice is to extend the time period for servicers to request reimbursement for counseling provided by counseling organizations that are HOPE NOW Alliance members as of the date of this Notice.
Effective with this Notice, servicers may request reimbursement for HOPE NOW Alliance counseled cases that were initiated on and after July 1, 2010 through June 30, 2011. The cases must be invoiced no later than September 30, 2011 and the reimbursement requests must be submitted to Fannie Mae on or before November 30, 2011.
The amount of the reimbursement remains at a maximum fee of $150 per case for each mortgage loan that is owned or securitized by Fannie Mae and serviced under Fannie Mae’s special servicing option.
The process for submitting requests for reimbursement also remains unchanged and is described in Lender Letter 06-09, Extension of HOPE Now Alliance Borrower Counseling Reimbursement.
Servicers who have questions should contact their Servicing Consultant, Portfolio Manager, or the National Servicing Organization’s Servicer Support Center at 1-888-FANNIE5 (888-326-6435).
To view the online Servicing Policy Update, 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.