Fannie Mae issued Servicing Guide Announcement SVC-2016-06 (Announcement). The Announcement: establishes servicer responsibility for monitoring a post- foreclosure bankruptcy attorney (based on the timing of the bankruptcy filing during the foreclosure process); extends the number of days by which a servicer must acknowledge receipt of a short sale offer from three to five business days (from receipt of the initial short sale offer); and updates the definition of “Pooled from Portfolio” to include mortgage loans that were previously reclassified into Fannie Mae’s portfolio.
Click here to view the Fannie Mae Servicing Guide Announcement
