Fannie mae reverse mortgage servicing manual

 · To see other Chapters of the Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual, please click on any of the chapters below: Chapter 2: Doing Reverse Mortgage Loan Business with Fannie Mae. Chapter 3: General Servicing Requirements. Chapter 4: Assisting Borrowers At Risk of Default or In Default. Reverse Mortgage Loan Servicing Manual. , Property Management has been further updated to remove the requirement that servicers pay co-op fees and assessments or ground rents for certain acquired properties in Fannie Mae’s REO inventory, except when directed by Fannie Mae. Effective Date. Fannie Mae will assume responsibility for. Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual Octo.

Fannie Mae Single-Family Reverse Mortgage Loan Servicing Manual. Bill Roller Leave a comment. This Reverse Mortgage Loan Servicing Manual (Manual) incorporates all Fannie Mae servicing-related guidelines for reverse mortgage loans. While the Manual. Version 2 - May 1. MMC MORTGAGE EXAMINATION MANUAL. MULTISTATE MORTGAGE COMMITTEE. th. Street, NW, Ninth Floor Washington, D.C. () Fannie Mae Updates Reverse Mortgage Loan Servicing Manual By mcallahan | Septem J In an effort to help reverse mortgage servicers with post-foreclosure sale responsibilities and fees, Fannie Mae has updated its loan servicing manual regarding real estate owned (REO) inventory.

Fannie Mae will independently calculate each scheduled interest rate change and notify the servicer of its calculation by providing the Reverse Mortgage Rate Changes Report to the servicer on the second business day of the month before each interest rate adjustment date via eBoutique. This Reverse Mortgage Loan Servicing Manual (Manual) incorporates all Fannie Mae servicing-related guidelines for reverse mortgage loans. While the Manual sets forth specific servicing requirements unique to reverse mortgage loans, servicers must continue to comply with servicing requirements in the Fannie Mae Single-Family Servicing Guide (Servicing Guide) for reverse mortgage loans to the extent such requirements are not in conflict with the provisions contained in the Manual. The servicer of reverse mortgage loans must refer to Servicing Guide A, Post-Delivery Servicing Transfers for detailed requirements related to post-delivery transfers of servicing. The servicer must submit a separate Request for Approval of Servicing or Subservicing Transfer (Form ) for all reverse mortgage loans that are part of the portfolio of mortgage loans being transferred.