Skip to main content

Fannie Mae Issues Notice Servicers on MI Agreements
Apr 18, 2011

Fannie Mae has issued an announcement in which it informs mortgage servicers to halt a practice that could help them avoid repurchasing flawed home loans. Announcement SVC-2011-04, issued April 15th, prohibits its mortgage servicers from from entering into any agreement that modifies the terms of an approved mortgage insurance master policy on loans delivered to Fannie Mae. According to the announcement, prohibited agreements include, but are not limited to, agreements that directly or indirectly: ►Modify master policy provisions for settling of claims; ►Limit the right of a mortgage insurer to conduct file reviews or investigate claims; ►Limit the right of a mortgage insurer to rescind coverage; ►Rescind or modify coverage; or ►Restrict notice to Fannie Mae of changes in coverage status. Fannie Mae requires that servicers disclose any such agreements previously enacted with mortgage insurers without delay and requests servicers provide Fannie Mae with a copy of any executed agreements or materials pertaining to an arrangement with mortgage insurers outside of an approved master policy.  
The New URLA – What’s the Big Deal?

Lenders will need to update their technology stack to comply with the redesigned URLA.

Regulation and Compliance
Jun 14, 2021
Texas State Legislators Looks To Protect Reverse Mortgage Borrowers

A Texas House Bill has been introduced to prevent false, misleading or deceptive advertising by reverse mortgage lenders.

Jun 02, 2021
Could Prudential Standards for Nonbank Mortgage Servicers be Eased?

From The Desk Of The “Om-Bobs-Man”

Regulation and Compliance
May 31, 2021
Get Ready to Duck and Cover

After years of hands-off attitude by regulators, a new wave of mortgage enforcement is building. Expect a tsunami.

Regulation and Compliance
May 13, 2021