Close Case a Mortgage Release™ Case
Important note: The Close Case functionality is the process to close out a Mortgage Release case after the transaction has been completed and all the final documents have been received.
Things to know before getting started:
- Case details of a successfully created Mortgage Release can be viewed in HSSN. This functionality will be available in the SMDU UI prior to the retirement of HSSN.
A. Enter the Fannie Mae 10-digit loan number.
B. If the loan search is successful you will be brought to the Loan Landing screen, which features the main actions banner and is comprised of a variety of sections.
C. Select the Close Case icon to use SMDU to close out the Mortgage Release case.
D. The Close Case screen for Mortgage Release opens up, you are responsible for completing and/or updating all applicable data.
- Note: You can also hover your cursor over the name of the respective data field to read the definition.
- Note: Data elements that are already populated with data reflect the information currently in Fannie Mae’s Servicing Solution System (HSSN/DARTS).
- Select or update the current “Property Occupancy Status” from drop-down box
- Select “Yes” or “No” to indicate whether litigation affects title or limits valid transfer/conveyance of title
- Enter any “Other Amount of Borrower Relocation Assistance” the borrower is receiving from a source other than Fannie Mae
- Select “Yes” or “No” to indicate whether the Mortgage Release data matches the approved Fannie Mae values
- Enter the “Date Deed Signed by Mortgagors” by entering the date (MM/DD/YYYY) or selecting the date by clicking on the calendar icon
- Select “Yes” or “No” to indicate whether the final Mortgage Release document has been received
- Enter the “REOgram Sent Date” by entering the date (MM/DD/YYYY) or selecting the date by clicking on the calendar icon
E. After you have reviewed, updated and entered all the applicable data, select the Close Case button.
F. SMDU submits the Mortgage Release case to Fannie Mae’s Servicing Solution System (HSSN/DARTS) in real-time and returns one of the following messages:
1. Successful Case Closing: If the Mortgage Release close case submission is successfully submitted to Fannie Mae then you will receive a response showing “DIL - Closed”.
2. Unsuccessful Case Closing: If the Mortgage Release submission is not successfully closed you will receive a “Failed” message highlighted in red. Review the message and take appropriate measures to clear the error before resubmitting the case to be closed.