The Servicing Guide has been updated to include changes or clarifications related to the following: • Escrow Waiver Requirements* • Compliance with Office of Foreign Assets Control (OFAC) Regulations • Miscellaneous Revision *Policy change not applicable to reverse mortgage loans.

h�bbd```b``z "'��/@$�Cɬ&YA$�n0 &��}`�X�*i�Ř "��� R���$m ��@��%��oe��t�]�Pf����� 0 P�� Insurance. The servicer is authorized to use an additional month to allow for sufficient processing time (a processing month to complete a The servicer must complete i.e., submit the case via Fannie Mae’s servicing solutions system a disaster payment deferral in the same month in which it determines the borrower is eligible. notices and more.If you have additional questions, Fannie Mae customers can You can also download the printable 1,200+ page PDF, which include links.This topic contains information on escrow accounts, including:First mortgages generally must provide for the deposit of escrow funds to pay as they come due, including taxes, ground rents, premiums for property insurance, and premiums for flood insurance. When the requirement for an escrow account is waived, the lender must retain Fannie Mae’s right to enforce the requirement in appropriate circumstances.Lenders must have a written policy governing the circumstances under which escrow accounts may be waived. However, escrow deposits for the payment of premiums for borrower-purchased mortgage insurance (if applicable) are mandatory. Mortgage Insurance; Property Insurance; Loss Events; Taxes; Assessments; Please note: While every effort has been made to ensure the reliability of the content in Ask Poli, Fannie Mae's Servicing Guide and its updates, including Guide Announcements and Release Notes, are the official statements of Fannie Mae's policies and … For the calculation of the monthly real estate tax payment lenders must comply with all federal and state regulations in calculating the amount to be collected for any established escrow account.Fannie Mae does not require an escrow deposit for property or flood insurance premiums for an individual unit in a condo, co-op, or PUD when the project in which the unit is located is covered by a blanket insurance policy purchased by the homeowners’ association or co-op corporation.If a special assessment levied against the property was not paid at loan closing, the borrower’s payment must include appropriate accruals to ensure that any estimated annual payment toward the assessment will be accumulated by the time it comes due.For certain refinance transactions where the borrower is financing real estate taxes in the loan amount, an escrow account is required, subject to applicable laws or regulations. 0 Except to the extent otherwise expressly permitted in the Selling Guide ( A2-3.2-01, Loan Repurchases and Make Whole Payments Requested by Fannie Mae), or the Servicing Guide with respect to the redelivery of loans to Fannie Mae, the loan being delivered cannot be one that was required to be repurchased by a secondary market investor, government-sponsored … %PDF-1.7 %����

214.03 C Fannie Mae Confirmation of Full Payoff Amount. 214.03 B Fannie Mae Will Not Confirm Nor Is Responsible for Amounts Owing to Servicer.

Section B2-1.5: Other Loan Attributes and Related Policies Escrow. When a lender permits escrow waivers, subject to the mortgage documents and applicable law, the lender’s written policies must provide that the waiver not be based solely on the LTV ratio of a loan, but also on whether the borrower has the financial ability to handle the lump sum payments of taxes, insurance, and other items described above.IntroductionThis topic contains information on legal requirements, including: First Mortgage Lien Position  Personal Property  Rental Property...IntroductionThis topic contains information on loan limits, including: Overview  Loan Limits Defined  Loan Limits and Modified Loans  ...If you have additional questions, Fannie Mae customers can For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.Having Issues with Seeing this Page Correctly?


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