Servicing Guide

Published September 9, 2020

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SMDU™ UI User Guide 7.38 September 2020 (Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Overview)

See below for sub-topic: Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Overview 

To see other sub-topics for Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review, please click on any of the topics below: 

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Borrower and Bankruptcy details

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Property and Origination details

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review-Delinquency & Foreclosure, Insurance & Escrow and Hardship

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review-Litigation and Non-Delegated Manual Case Submission

 

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Overview

Click here to access the interactive Create Manual Submission eLearning module

This section provides instruction on how to create a Non-Delegated Manual Submission case for a loan in which:

  • SMDU was not used to evaluate or decision the loan for a modification; and
  • Fannie Mae needs to evaluate and decision outside of SMDU. 

A. Search for the loan by using the Fannie Mae 10-digit loan number

B. If the loan search is successful you will be brought to the Loan Landing page, which features the main actions banner and is comprised of a variety of sections, including the “Recent SMDU Evaluation History.

C. To create a case for a Non-Delegated loan modification select the Create Manual Submission icon.

D. The Create Manual Submission page opens, select the applicableCampaign Name  for the non-delegated loan modification request from the drop-down box. 

  • Note: The available list of Campaign Names is user specific and only displays the campaigns the user has permission to access. 

E. The Create Manual Submission page will then expand to reveal a variety of data elements.  You must complete all applicable data elements on this initial page. 

  1. Enter your calculated “Recommended Trial Payment Amount ” (e.g., Principal + Interest + Post-Workout Monthly Mortgage Insurance + Post-Workout Escrow + Future Escrow Shortage Monthly Amount)
  2. Select your recommendation as to whether the loan modification should be “Approved or Decline
  3. Enter your justification and/or comments supporting your recommendation in “Servicer’s Workout Comments
  4. Enter the “Servicer Evaluation Date” by entering the date (MM/DD/YYYY) or selecting the date by clicking on the calendar icon
  5. Enter the loan “Workout Effective Date” by entering the date (MM/DD/YYYY) or selecting the date by clicking on the calendar icon
  6. Enter the post-workout “Interest Rate” that will be used for the loan modification
  7. Enter the post-workout “Amortization Term” in months (e.g., 240, 360, 480)
  8. Enter the post-workout “Monthly Principal & Interest” that will be used for the loan modification
  9. Select the post-workout modified mortgage “Loan Product Type” from the drop-down box                                              Note: FRM equals Fixed Rate Mortgage.
  10. Enter the “Servicing Fee” (0.25%) that will be used in the modification
  11. Enter any “Excess Servicing Fee”, this is the excessive rate over approved fee at which servicer receives excess yield on loan modification associated with a subprime or self-help loan, that will be used in the modification

F. After you have completed the initial Create Manual Submission page you will need to complete the data elements that reside within the various links on the left side of the page (aka the “left-hand navigation bar”). Each link brings you to pages that allow you to enter data. You can navigate through the different links in any order, but you are responsible for completing all applicable data. 

  •  Note: The link to Prior Workout History page is grayed out as you do not have to complete to submit a non-delegated manual submission

Recommended Next Step: Borrowers 

 

To see other sub-topics for Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review, please click on any of the topics below:

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Borrower and Bankruptcy details

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review- Property and Origination details

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review-Delinquency & Foreclosure, Insurance & Escrow and Hardship

Create Manual Submission, a loan that is evaluated and decisioned outside of SMDU to send a Non-Delegated case to Fannie Mae for Review-Litigation and Non-Delegated Manual Case Submission

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