Fannie Mae issued Servicing Guide Announcement SVC-2021-02 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae:
- amended requirements for submitting property valuation orders for charge-off requests (must be submitted using the Valuation Management System and the VMA Valuation Order Template);
- updated the Servicing Guide to reflect a procedural change when requesting reimbursement of recording costs associated with a mortgage loan satisfaction;
- clarified the process for requesting approval to pay third party fees out of insurance loss proceeds;
- replaced the Fannie Mae eNote Transfer of Control Request (Form 197) with the Request for Transfer of Control of eNotes (Form 2009e); and
- updated the Allowable Foreclosure Attorney Fees exhibit to reflect a change to judicial foreclosure fees for Texas Section 50(a)(6) mortgage loans.
Revisions related to foreclosure fees for Texas Section 50(a)(6) mortgage loans are effective for all judicial foreclosure matters that are active on or after March 18, 2020. Revisions related to property valuation orders for charge-off requests are effective June 1, 2021 (servicers are, however, encouraged to implement the revisions immediately). All other revisions are effective immediately.
Click here to view the Fannie Mae Servicing Guide Announcement SVC-2021-02: https://www.tenaco.com/wp-content/uploads/2021/03/Fannie-Mae-Servicing-Guide-Announcement-SVC-2021-02.pdf
