Fannie Mae: SVC-2020-02: Servicing Guide Update

Fannie Mae: SVC-2020-02: Servicing Guide Update

Fannie Mae: SVC-2020-02: Servicing Guide Update

Investor Update
June 10, 2020

Source: Fannie Mae

The Servicing Guide has been updated to include changes to the following:

▪ Pre-modification housing expense-to-income ratio calculation for imminent default and cash contribution*:
updated instructions to servicers regarding escrow shortages that are part of the full monthly contractual payment.

▪ Miscellaneous revisions*: clarified delinquency status reporting requirements and updated Form 710.

*Policy change not applicable to reverse mortgage loans.

For full update, please click the source link above.