Fannie Mae Announcement SVC-2010-11
August 17th, 2010
Fannie Mae issued Announcement SVC-2010-11 titled, Unique Hardships.
The Announcement identifies situations that warrant the use of relief provisions for borrowers impacted by unusual circumstances that create financial hardship and includes guidelines that servicers must adhere to when providing this relief.
The Announcement provides the definition and parameters that qualify a situation for consideration as a unique hardship and specifically identifies the following three situations as unique hardships (see the Announcement for details and related documentation requirements):
- Problem drywall (that was new when installed between 2001 and 2008)
- U.S. service member injured while on active duty
- Death of a U.S. service member while on active duty
To view the Announcement in its entirety, 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 approximately 800 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