increase the maximum allowable foreclosure attorney fees for New Hampshire and Maine,.
We are updating the Allowable Foreclosure Attorney Fees Exhibitto This policy change is effective immediately however, servicers are authorized to implement this change at its discretion and at a time of their choosing.Īllowable Foreclosure Fees for New Hampshire, Maine and Washington, and Fee Proration Related to Milestone Billing We will continue to reimburse servicers for the cost of disaster inspections when necessary for both current and delinquent mortgage loans. D1-3-01, Evaluating the Impact of a Disaster Event and Assisting a Borrower has been updated to reflect these changes. Servicers remain responsible for inspections and borrower outreach in accordance with existing Servicing Guide requirements if the mortgage loans subsequently become delinquent. In response to servicer feedback and in an effort to provide servicers with greater flexibility and reduce the cost of servicing, we are updating the Servicing Guide to authorize, but no longer require, servicers to make contact attempts and perform property inspections for a mortgage loan that is current at the time of the disaster event and remains current following the disaster event. Servicers are encouraged to implement these policy changes immediately, but must do so by July 1, 2019.Įvaluating Property Damage After a Disaster Event for Current Mortgage LoansĬurrently, when a disaster event occurs, servicers are required to determine the extent and nature of damage to any property securing a mortgage loan. We are now incorporating these requirements into Servicing Guide B-5-01, Insured Loss Events and expanding these requirements to include any insured loss event regardless of cause.
With Lender Letter LL-2017-09R, we expanded our requirements for the disbursement of insurance loss proceeds for impacted properties located in a Federal Emergency Management Administration (FEMA)-declared disaster areas eligible for Individual Assistance on or after August 25, 2017. **Policy change applies only to Home Keeper TM mortgage loans and is not applicable to Home Equity Conversion Mortgage (HECM) loans. *Policy change not applicable to reverse mortgage loans.
#FNMA D1 FORM REGISTRATION#
Mortgage Electronic Registration Systems (MERS ®) Policy Consolidation*.Allowable Foreclosure Fees for New Hampshire, Maine and Washington, and Fee Proration Related to Milestone Billing**.Evaluating Property Damage After a Disaster Event for Current Mortgage Loans.The Servicing Guide has been updated to include changes related to the following:
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