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Cash Remittance System Upcoming April Release
Provides details for the upcoming Cash Remittance System release, effective Monday April 21, 2014.
Servicing Notice
Effective May 1, 2014, Fannie Mae will begin issuing warning letters and assessing compensatory fees for late and inaccurate reporting.
Announcement SVC-2014-05
Fannie Mae is updating the modification terms for mortgage loans with pre-modified mark-to-market LTV ratios less than 80%. It supersedes and replaces SVC-2013-28, Fannie Mae Standard Modification and Streamlined Modification Updates, in its entirety. This Announcement also updates requirements related to the Evaluation Notice, solicitation letter, and Trial Period Plan.
Servicing Notice
The Allowable Attorney and Trustee Foreclosure Fees exhibit on Fannie Mae’s website is updated to reflect changes in the maximum allowable foreclosure attorney fees for properties in the state of New York and to correct an error in the footnote annotations for certain states.
Servicer Expense Reimbursement Processing Update (Revised)
This Change Notification provides a revised version of the Servicer LPS Line Item changes associated with the Black Knight (Invoice Management) notification posted in January 2014.
Selling/Servicing Notice
Fannie Mae is substituting indexes based on LIBOR rates published in The Wall Street Journal for the discontinued Federal Reserve Board CD rates. Also, two standard ARM Plans based on the discontinued index are retired, effective immediately. The updated Standard ARM Plan Matrix is available on this website.
Servicing Notice
Fannie Mae is postponing the effective date of April 1, 2014, for implementation of requirements set forth in Announcement SVC-2013-28, Fannie Mae Standard Modification and Streamlined Modification Updates.
Reminder: Annual Certifications and Financial Statements Due for Most Lenders
As a reminder, Fannie Mae lenders are required to submit their audited financial statements and Form 582 Lender Record Information and Certification within 90 days of their fiscal year-end. For lenders that ended their fiscal year on Dec. 31, the required submissions are due by March 31.
Announcement SVC-2014-04
This Announcement clarifies and updates policies regarding individual mortgage loan files, servicing quality control reviews, final requests for reimbursement, attorney expenses, and transfers of variances and waivers.
Servicing Notice
Beginning on July 1, 2014, the Fannie Mae Standard Modification Rate (posted on Fannie Mae’s website) may be adjusted monthly.
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