New Fannie Mae Servicing Standards

On June 6, Fannie Mae issued new standards for mortgage servicers under the FHFA’s Servicing Alignment Initiative relating to: (i) management of delinquent loans; (ii) default prevention; and (iii) foreclosure time frames. These standards are reinforced by new incentives and compensatory fees. Fannie Mae Release. Delinquency Management and Default Prevention Announcement. Foreclosure Time Frames and Compensatory Fee Announcement.