Five Brothers

Fannie Mae Servicing Guide Announcement SVC-2014-05: Fannie Mae Standard Modification and Streamlined Modification Updates

 

March 28, 2014

 

Servicing Guide Announcement SVC-2014-05

 

Fannie Mae Standard Modification and Streamlined Modification Updates

 

In Announcement SVC-2013-28, Fannie Mae Standard Modification and Streamlined Modification Updates, Fannie Mae expanded the Fannie Mae Standard Modification and Streamlined programs (including Fannie Mae Streamlined Modifications after disaster forbearance) to include mortgage loans with a pre-modified mark-to-market loan-to-value (MTMLTV) ratio less than 80%.  This Announcement supersedes and replaces Announcement SVC-2018-28 in its entirety.

 

Except as stated in this Announcement for mortgage loans with a pre-modified MTMLTV ratio less than 80%, servicers must comply with the applicable requirements for a Fannie Mae Standard Modification or Streamlined Modification as described in the Servicing Guide, including Announcement SVC-2013-05: Streamlined Modifications, Conventional Mortgage Loan Modifications, and Outbound Communications, and Announcement SVC-2013-16: Updates to Assistance in Disasters.

 

Effective Date

 

Servicers are encouraged to implement this policy immediately; however, servicers are required to implement this policy no later than July 1, 2014.

 

Please click here to view the Servicing Guide in its entirety