ANNOUNCEMENT 03-14
Dated: 12/17/2003 Received: 12/17/2003 Posted: 12/18/2003
Requires servicers to proactively monitor bankruptcy filings to identify bankruptcies at the time a borrower actually files the bankruptcy and introduces allowable timelines within which we expect bankruptcy proceedings to be completed. Reminds lenders of Fannie Mae's data reporting requirements and clarifies requirements for lenders to resubordinate existing liens when refinancing original loans.

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FNMA Announcement 03-14

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ACA #1406