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Proposed changes to the MERS® System Rules of Membership

Proposed changes to the MERS® System Rules of Membership


via- MERS

Set forth on Exhibit A are proposed changes to the MERS® System Rules of Membership (“Rules”).

These proposed changes are “technical” in nature in that there are no substantive changes to any of the Rules. The changes mainly clarify the distinction between Mortgage Electronic Registration Systems, Inc., and its service provider, MERSCORP, Inc. They also properly reference the MERS® System, where appropriate.

The proposed changes to the Rules are highlighted and underlined in Exhibit A [Below].

[ipaper docId=74344261 access_key=key-2oldis7h147wp3xoxvyk height=600 width=600 /]

 

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Fannie Mae’s Announcing Miscellaneous Servicing Policy Changes

Fannie Mae’s Announcing Miscellaneous Servicing Policy Changes


Highlights:

Retirement of HomeSaver Advance
Servicing Guide, Part VII, Section 609: HomeSaver Advance

Technology Usage and Electronic Invoice Submission Charges to Attorneys and Trustees
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII, Section 104.04: Attorney (or Trustee) Fees

Prohibition Against Servicer-Specified Vendors for Fannie Mae Referrals
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII, Section 104.04: Attorney (or Trustee) Fees

Prohibition on Outsourcing Fees, Referral Fees, Packaging Fees, and Similar Fees
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII, Section 104.04: Attorney (or Trustee) Fees

Attorney or Trustee File Transfers
Servicing Guide, Part VII, Section 501: Selection of Bankruptcy Attorneys and Avoiding Delays in Case Processing, and Part VIII, Section 104: Referral to Foreclosure Attorney/Trustee

New Documentation Aging Requirements Established for Loss Mitigation Options
Servicing Guide, Part VII, Section 601.01: Requesting Preliminary Financial Information

Mandatory Nature of Retained Attorney Network
Servicing Guide, Part VII, Section 501.01: Fannie Mae-Retained Attorneys, and Part VIII, Section 104.01: Fannie Mae-Retained Attorneys

Deeds-in-Lieu of Foreclosure
Servicing Guide, Part VII, Section 606: Deeds-in-Lieu of Foreclosure

Clarification Regarding Foreclosure Actions in the Name of Mortgage Electronic Registration System (MERS)

Monitoring Pooled from Portfolio (PFP) Mortgage Loans

Announcement 08-31, Fannie Mae 2009 Single-Family Master Trust Agreement, the Amended and Restated 2007 Single-Family Master Trust Agreement, and Certain Servicing Clarifications and Changes, Including Expanded Loss Mitigation Flexibility, and Announcement 07-03R, Reissuance of the Instructions for the Fannie Mae Single-Family MBS Master Trust Agreement

Servicer Responsibilities for Non-Escrow Mortgage Loans
Servicing Guide, Part III, Section 103: Escrow Deposit Accounts

Audit Confirmation Request Process Changes
Servicing Guide, Part X, Section 106: Audit Confirmations

[ipaper docId=35369764 access_key=key-hwlb9q7zv7ait78hgtk height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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