Servicing Guide

Published September 9, 2020

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SMDU™ UI User Guide 7.38 September 2020 (Evaluate for a Workout- Request Second Look)

This section provides instructions on how to request a non-delegated second look review by Fannie Mae for a loan that was recently evaluated at trial by SMDU (within the last 14 days).  SMDU will submit the dataset provided during the initial SMDU evaluate to Fannie Mae, thus greatly reducing the number of data fields you must complete.    

A. You can submit an SMDU evaluated loan with a Borrower Response Package (BRP) to Fannie Mae’s Home Retention Solutions (HRS) group for a “Second Look Review”. To request a review by HRS select the Request Second Look icon.

B. The Request Second Look page opens.

  1. Select the workout for second look review from the dropdown.
  2. If applicable, enter or update the “Servicer Contact Name”, the person responsible for working with Fannie Mae on modification
  3. If applicable, enter or update the “Servicer Contact Email Address”, the person responsible for working with Fannie Mae on modification
  4. If applicable, enter or update the “Servicer Contact Phone Number
  5. If applicable, enter or update the “Servicer Contact Phone Number Extension
  6. If applicable, update answer by selecting “Yes” or “No” to indicate whether there are any known structural or environmental problems with the subject property
  7. In the “Servicer’s Workout Comments field enter any mitigating circumstances and/or comments supporting why you are seeking a second look review by Fannie Mae

C. Submit the Second Look Request case to Fannie Mae:  Once you have entered and reviewed all the data and are ready to submit the case click the Request Second Look button.

 D. Case Submission will result in one of the following:

1.   Successful:  If the second look submission is successfully submitted to Fannie Mae then you will receive a “Case Sent to Fannie Mae” message, and the case status will reflect “Awaiting Review”.  “Awaiting Review” means the case has been placed in Fannie Mae’s queue for review.

  • Note:  The case status will change as it moves through the subsequent steps of the review process:
    • An “In Review” status means the case is being reviewed by an HRS Representative.
    • An “Approved for Trial” or “Declined” status means the case has been decisioned by an HRS Representative.  The HRS Representative will email their recommendation and applicable details to the person who submitted the Request Second Look review.

  • Note: To view the case details select the View Case Details link next to “Approved for Trial”. 

  • Note: To view the case data elements used to create the second look request select the View link next to “SMDU Trial Decision”.

2. Unsuccessful Case Creation: If the second look submission is not successfully submitted to Fannie Mae then you will receive a validation error message highlighted in red at the top of the page, and you will need to review the message and take appropriate measures to clear the error.

  • Note: In the screenshot above the message is letting you know that you need to update the “Projected Foreclosure Date” field.  Once updated you will need to reselect the “Request Second Look” button to resubmit your case request to Fannie Mae.

 

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