Fannie Mae issued Servicing Guide Announcement SVC-2019-05 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae simplified policy related to escrow account waivers by removing the requirement that a mortgage loan must be aged a minimum of 24 months (from loan origination or from the completion of a repayment plan). In addition, Fannie Mae updated Section A3-2-01 (Compliance with Laws) with additional servicing responsibilities related to compliance with Department of Treasury Office of Foreign Assets Control regulations. All updates are effective immediately.
Click Here to View the Fannie Mae Servicing Guide Announcement SVC-2019-05
