Fannie Mae Servicing Guide Announcement -- Delinquency Management and Other Servicing Responsibilities

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Fannie Mae Servicing Guide Announcement — Delinquency Management and Other Servicing Responsibilities

Fannie Mae Servicing Guide Announcement — Delinquency Management and Other Servicing Responsibilities

Fannie Mae is updating policies as a result of certain Consumer Financial Protection Bureau (CFPB) rules and regulations that implement the mortgage servicing provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and other eligibility requirements for liquidation workout options. The policies updated in this Announcement relate to:

  •  General requirements for standard short sale/HAFA II and Mortgage Release™
  • Eligibility requirements for standard short sale/HAFA II, Mortgage Release, and streamlined documentation Property valuation for mortgage loan modifications
  • Servicer requirements relating to an appeal
  • Borrower inquiries

Effective Date

Unless stated otherwise, the effective date for the changes in this Announcement is January 10, 2014.

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