10 Jun Fannie Mae: SVC-2020-02: Servicing Guide Update
Fannie Mae: SVC-2020-02: Servicing Guide 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.