Fannie Mae issued Servicing Guide Announcement SVC-2016-08 (Announcement). The Announcement: updates the Foreclosure Time Frames and Compensatory Fee Allowable Delays exhibit; amends the Servicing Guide to reflect the list of conventional mortgage insurers from which Fannie Mae has obtained delegations of authority on behalf of all servicers for both workout options; and revises the instructions for Form 3179 (Loan Modification Agreement) and Form 181 (Agreement for Modification, Re-Amortization, or Extension of Mortgage). The changes to the Servicing Guide with respect to the list of mortgage insurers are effective November 1, 2016; however, servicers are encouraged to implement the change immediately. All other changes are effective immediately.
Click here to view the Fannie Mae Servicing Guide Announcement
