Featured News Servicing Guide updates include changes and revisions As part of the Servicing Guide update, the Valuation Management System (VMS) Valuation Order Template has been updated to require the foreclosure sale date be completed when a service

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Featured News

 

Servicing Guide updates include changes and revisions As part of the Servicing Guide update, the Valuation Management System (VMS) Valuation Order Template has been updated to require the foreclosure sale date be completed when a servicer is requesting the property valuation for bidding instructions. Additionally, we’ve revised the Evaluation Notices and the payment deferral agreement to incorporate clarifications regarding Home Affordable Mortgage Program (HAMP) incentives. The Evaluation Notices also include revisions based on recent policy updates.   Read SVC-2020-05     Updates to COVID-19 Lender Letters regarding payment deferral and servicing We’ve updated COVID-19 Payment Deferral Lender letter (LL-2020-07) and Impact of COVID-19 on Servicing Lender Letter (LL-2020-02) to clarify when a borrower impacted by COVID-19 remains eligible for any future HAMP “pay for performance” incentives. In LL-2020-07, we also clarified that a mortgage loan with an origination date after March 1, 2020 is not excluded from COVID-19 payment deferral eligibility.   View LL-2020-07   View LL-2020-02     Payment Deferral Lender Letter updated We’ve updated Payment Deferral Lender Letter (LL-2020-05) to clarify that a borrower’s acceptance of a payment deferral will result in the mortgage loan’s withdrawal from HAMP and the loss of any future HAMP “pay for performance” incentives.   View LL-2020-05