Fannie Mae issued Servicing Guide Announcement SVC-2016-09 (Announcement). The Announcement: updates servicer responsibilities related to cancelling property insurance and managing property following a foreclosure sale; amends reinstatement and payoff requirements with respect to the collection of legal fees, costs, escrow and corporate advances; updates the Promissory Note Model Form (Form 190); provides instructions on how to process an eMortgage consolidation, extension and modification agreement; and updates requirements with respect to remitting duplicate mortgage insurance premium refunds to Fannie Mae.
Click here to view the Fannie Mae Issues Servicing Guide Announcement
