This topic summarizes the updates made to the Servicing Guide during the current calendar year.
The following table provides a description of the updates.
|SVC-2020-02, Servicing Guide Updates (06/10/2020)||Delinquency Status Reporting Requirements||Clarifies servicer’s responsibility
to report delinquency status information for mortgage loans that are
current or less than 30 days delinquent
|Clarifying the Pre-Modification Housing Expense-to-Income Ratio Calculation for Imminent Default and Cash Contribution||Clarifies that only an escrow shortage included
as part of the current full monthly contractual payment is to be
included in the pre-modification Housing Expense-to-Income Ratio
calculation for purposes of determining imminent default for a conventional
mortgage loan modification, short sale, or Mortgage Release, as
well as for determining the borrower’s ability to make
a cash contribution towards a Fannie Mae short sale or Mortgage Release.
|SVC-2020-01, Servicing Guide Updates (02/12/2020)||Prorated Attorney Fees and Foreclosure Milestone Invoicing||Updates the foreclosure milestone schedule
and eliminates prorated fee requirements.
|Timing of Delinquency Status Exception Report Availability||Clarifies when delinquency status exception
reports will be made available to servicers.