Introduction

Servicing Guide, Part IX, Section 103: Eligible Custodial Depositories; Announcement 07-03R2, Reissuance of the Instructions for the Fannie Mae Single-Family MBS Master Trust Agreement; and Announcement 08-31, Fannie Mae 2009 Single-Family Master Trust Agreement, the Amended and Restated 2007 Single-Family Master Trust Agreement, and Certain Servicing Clarifications and Changes, Including Expanded Loss Mitigation Flexibility

In Announcement 07-03R2, Fannie Mae outlined revised eligibility requirements for custodial depositories. Servicers were reminded of Fannie Mae’s depository institution eligibility requirements in Announcement 08-31. This Announcement clarifies the remedies that Fannie Mae will consider when a depository holding Fannie Mae custodial funds becomes ineligible by failing to satisfy Fannie Mae’s eligibility requirements for custodial depositories.

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 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.