Fannie Mae issued the following Servicing Policy Update titled, "Home Affordable Modification Solicitation Materials, HomeSaver Forbearance Reporting Tools, and Mortgage Insurance Requirements Now Available".

Home Affordable Modification Solicitation Materials, HomeSaver Forbearance Reporting Tools, and Mortgage Insurance Requirements Now Available

• If a servicer does not have a delinquent borrower's recent financial information, they may use the sample solicitation letter instructing eligible borrowers to call the servicer to discuss their individual circumstances.
• If or once recent borrower financial information is available (provided within 90 days of the date the servicer determines HMP eligibility), servicers should use the documents, and refer to the specific instructions, posted on eFannieMae.com to make a firm offer to establish a workout plan and begin the required trial period.

Additional servicer resources will be available soon, including:

• more borrower-friendly, visually appealing versions of the solicitation letters,
• the Home Affordable Modification Program Modification Agreement and cover letter, which the servicer should prepare following receipt of the second trial period payment during the trial period (or third trial period payment for borrowers facing imminent default which require a four month trial period),
• the Net Present Value test calculator, which must be utilized for all eligible Fannie Mae portfolio mortgages and MBS pool mortgages before the firm offer to establish a workout plan is made, and
• weekly reporting tools.

Fannie Mae will continue to provide new Home Affordable Modification program tools and resources as they become available via eFannieMae.com.  Check back often for updates.

HomeSaver Forbearance™ Reporting Tools

Fannie Mae has also posted the reporting spreadsheet required of servicers to report on HomeSaver Forbearance loans, reporting instructions, as well as instructions for uploading the reporting data into the HomeSaver Solutions® Network on the HomeSaver Forbearance page.

Mortgage Insurance Requirements

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 500 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.