Servicing Guide, Part VIII, Section 104.01: Fannie Mae–Retained Attorneys; Section 104.03: Servicer-Retained Attorneys/Trustees and Special Rules for Nevada; Chapter 1, Exhibit 1: Mortgage Loan Status Data for Foreclosure Proceedings; Exhibit 2: Expected Servicer/Attorney (or Trustee) Interaction
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.Click image below… A little way too late in the game to try to perfect the documents one would say…
Fannie and Freddie claim to “own” most mortgages but their guidelines (and PSAs) essentially instruct servicers to keep the note – don’t transfer it to them. However, without delivery of the note there is no negotiation or sale of the loan. Fannie and Freddie may have the mortgage/Deed of Trust, but not the most important part of the equation: the note. Without it, the mortgage/DOT is worthless. The servicer typically needs both to foreclose.