Thursday, July 28, 2011

Fannie Implementation of New Delinquency Management Rules

Fannie Mae has issued a notice to servicers alerting them of a change in the effective date for new delinquency management and default prevention requirements.

Fannie is pushing the date by which servicers must implement the new requirements out by a month to October 1, 2011. Fannie Mae’s and Freddie Mac’s procedures for handling past-due mortgages are being brought in line with one another.