17 Feb Fannie Mae: SVC-2020-01: Servicing Guide Update
February 12, 2020
Source: Fannie Mae
The Servicing Guide has been updated to include changes to the following:
▪ Prorated attorney fees and foreclosure milestone invoicing*: We updated the foreclosure milestone schedule and
eliminated prorated fee requirements.
▪ Delinquency exception reporting *: We clarified when delinquency status exception reports will be made available to servicers.
We are also reminding servicers of their responsibility to compensate the law firm for default-related services that are not a part of the allowable foreclosure attorney fee and would otherwise be considered a servicing function included in the servicing fee.
*Policy change not applicable to reverse mortgage loans.
For full update, please click the source link above.