Fannie Mae: SVC-2021-02: Servicing Guide Updates

Fannie Mae: SVC-2021-02: Servicing Guide Updates

Investor Update
March 10, 2021

Source: Fannie Mae

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

▪ Property valuation orders for charge-offs*: updates our requirements for submitting a charge-off request to us via our servicing solutions system.

▪ Reimbursement of recording costs for mortgage loan satisfactions*: reflects a recent procedural change for servicers when requesting reimbursement of recording costs associated with a mortgage loan satisfaction.

▪ Approval request to pay third parties out of insurance loss proceeds*: clarifies the approval process related to the payment to third parties from insurance loss proceeds.

▪ Miscellaneous updates*:
– replaces the Fannie Mae eNote Transfer of Control Request (Form 197) and
– updates the Allowable Foreclosure Attorney Fees Exhibit to reflect a change to judicial foreclosure fees for Texas Section 50(a)(6) mortgage loans

To access full announcement, please click the source link above.