in News > Mortgage Servicing
print the content item
Fannie Mae has announced several changes to its servicing policy, including an update on attorney/trustee foreclosure fees and notification of increased incentive fees tied to Home Affordable Modification Program (HAMP) modifications.

The updated foreclosure fees affect three states: Hawaii, Delaware and New York.

In Hawaii, where Fannie Mae has previously instructed servicers to convert to judicial foreclosure files referred to an attorney on or after May 5, the government-sponsored enterprise is establishing a maximum allowable foreclosure fee of $2,200.

The maximum allowable attorney fee for judicial foreclosures in Delaware has been bumped from $950 to $1,150. The new fees affect loans referred to an attoreny on or after Aug. 1, and they are meant to cover all steps required to complete a foreclosure in the state.

Also effective for foreclosure referrals dated on or after Aug. 1., Fannie Mae has raised fees in New York from $1,400 to $1,800, except in the New York City and Long Island, where the foreclosure fee has been increased from $2,000 to $2,200.


Interthinx has Your Blueprint for Quality_1375


Latest Top Stories

Uniting For Quality Appraisals

How AMCs and appraisers are collaborating to ensure accurate, quality property valuations.


Five Things Servicers Can Do Now To Improve Customer Satisfaction

It's a worthy goal, not just because it will satisfy regulators but also because it can yield measurable savings for the servicer's contact center.


Fannie, Freddie Lower Down Payment Requirements

The GSEs are now accepting conventional mortgages with a down payment of as little as 3%.


Zillow: First-Time Home Buyers Will Lead Recovery In 2015

Stan Humphries, chief economist for Zillow, says he expects "the allure of fixed mortgage payments and a more stable housing market will entice many more otherwise content renters into the housing market."


New Home Sales Rose Slightly In October

It was the fifth consecutive month that the U.S. Census Bureau and U.S. Department of Housing and Urban Development downwardly revised the previous month's new home sales estimate.

Urban Lending_id1351
Hse SandyHook
Industry Resource
Play for Pink
SWBC_id1313
MBA-TX_id