partnerfirstorg: GSE's align on delinquency management...finally! - 05/09/11 11:45 AM
By: Jacob Swodeck - PartnerFirst, Director of Education
So, if you’re wondering what is happening at the highest levels in the mortgage servicing world, here it is! The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to align their guidelines for servicing delinquent mortgages they own or guarantee.  According to the FHFA, this framework will create uniform servicing requirements, as well as monetary incentives for servicers that perform well and penalties for servicers that do not.
The directive requires the two government-sponsored enterprises to align servicing requirements in four areas: borrower contact, delinquency management practices, loan modifications and foreclosure … (0 comments)