Mismo is asking for public comment on a new servicing transfer catalog that aims to help servicers comply with new Fannie Mae and Freddie Mac guidelines. The catalog will provide a standardized list of servicing transfer documents and timelines.
The new guidelines, which go into effect on July 1, 2019, require servicers to provide a complete transfer package to the new servicer within 10 days of the transfer date. The package must include all servicing transfer documents and a complete history of the loan.
The goal of the new catalog is to help servicers comply with the new guidelines and to make the servicing transfer process smooth and efficient. Mismo is requesting feedback from the industry on the proposed catalog. The deadline for comments is June 3, 2019.
You can read this full article at: https://www.housingwire.com/articles/mismo-asks-for-public-comment-on-new-servicing-transfer-catalog/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
