Fannie Mae issued Servicing Guide Announcement SVC02018-07 (Announcement), requiring servicers to use a Fannie Mae-approved vendor for foreclosure sale marketing services in designated jurisdictions. Per the Announcement, Fannie Mae engaged Auction.Com and Altisource (through its auction platform Hubzu) as Fannie Mae-approved vendors. Lenders and servicers must use one of these vendors to provide foreclosure sale marketing services in designated jurisdictions. Lenders and servicers are encouraged to also use Auction.com to conduct public foreclosure auction services in designated jurisdictions. Fannie Mae’s Foreclosure Sale Marketing and Auction Services Exhibit sets forth the jurisdictions where use of the vendors is required and/or encouraged. Use of a Fannie Mae-approved vendor for foreclosure sale marketing services in applicable jurisdictions is mandatory for all foreclosure sales scheduled on or after January 1, 2019 (servicers are, however, encouraged to use the vendor for all foreclosure sales scheduled on or after October 1, 2018).
Click Here to View the Fannie Mae Servicing Guide Announcement SVC-2018-07
