Fannie Mae Press Release
October 4th, 2010
Fannie Mae issued a press release titled, Statement by Terry Edwards Executive Vice President on Foreclosure Compliance.
We are disturbed by reports of servicers failing to follow proper procedures in the administration of foreclosure cases. We strongly believe that homeowners who have exhausted all other options and are now facing foreclosure must be treated fairly and equitably. Accordingly, servicers should adhere to the exact requirements of the law in all of these cases, including the proper execution of affidavits, verifications and other legal documents as part of the default process.
Fannie Mae servicers are required, by contract, to adhere to applicable laws and rules regarding mortgage documents, and to establish processes and controls that ensure compliance. The steps we are taking today in coordination with our regulator are meant to reinforce these contractual obligations, strengthen the regimen for review and due diligence on the part of servicers, and protect the rights of borrowers facing foreclosure.
To view the online press release, 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.