This was a particularly important concept for Fannie Mae, considering that along with the Federal Home Loan Mortgage Corporation (Freddie Mac), it bore the credit risk for almost half the nation’s single-home mortgages, and had already lost more than $157 billion between 2008 and 2011, due to non-performing loans in its retained and guaranteed ...
https://www.debt.org/blog/fannie-mae-bank-of-america-09-20-2012/
In addition, Fannie Mae currently requires servicers to ensure any priority liens for delinquent HOA dues and. assessments on acquired properties are cleared immediately, but no later than 30 days, after the foreclosure. sale or acceptance of a deed-in-lieu of foreclosure.
https://www.fanniemae.com/sf/guides/ssg/annltrs/pdf/2012/svc1205.pdf
Fannie Mae Salary. Fannie Mae average salary is $87,124, median salary is $85,500 with a salary range from $61,000 to $129,000. Fannie Mae salaries are collected from government agencies and companies. Each salary is associated with a real job position. Fannie Mae salary statistics is not exclusive and is for reference only.
http://www.salarylist.com/company/Fannie-Mae-Salary.htm
By On 09/18/12 AT 11:46 AM. Fannie Mae agreed to pay Bank of America Corp (NYSE: BAC) about 20 percent more than it was contractually obligated to last year to transfer the servicing of high-risk mortgages to firms more likely to prevent their foreclosure, according to a government watchdog report released Tuesday.
http://www.ibtimes.com/did-fannie-mae-overpay-bank-america-servicing-rights-790114
The deal that prompted the investigation was a $412 million payment from Fannie Mae to Bank of America in August 2011 to transfer the servicing rights to more than 300,000 of these loans over to specialty companies it calls high touch servicers.
http://www.ibtimes.com/did-fannie-mae-overpay-bank-america-servicing-rights-790114
Currently, Fannie Mae requires servicers to advance funds when the servicer is notified by an HOA for a PUD. or condo project that the borrower is 60 days delinquent in the payment of assessments or charges levied by. the association if necessary to protect the priority of Fannie Mae’s mortgage lien.
https://www.fanniemae.com/sf/guides/ssg/annltrs/pdf/2012/svc1205.pdf
However, in many cases, Fannie Mae appeared to be paying millions of dollars too much. The taxpayer-owned company paid more than legally required to Bank of America and 12 other lenders when it spent $1.5 billion in termination fees for servicing rights on 1.1 million loans between 2008 and 2011.
http://www.ibtimes.com/did-fannie-mae-overpay-bank-america-servicing-rights-790114
Fannie Mae requires servicers to protect the priority of the mortgage lien and to clear all liens for delinquent. homeowners’ association (HOA) dues and condo assessments on properties acquired through foreclosure or. deed-in-lieu of foreclosure.
https://www.fanniemae.com/sf/guides/ssg/annltrs/pdf/2012/svc1205.pdf
Apr 12, 2017 Servicing Guide Updates new This update simplifies our requirements, manages risk, and responds to industry feedback.
https://www.fanniemae.com/singlefamily/servicing
We offer information and resources related to servicing Fannie Mae-owned or Fannie Mae-securitized one- to four-unit mortgage loans.
https://www.fanniemae.com/singlefamily/servicing
how much does fannie mae pay for servicing
Fannie Mae pays from $61,000 to $1,29,000 for servicing. Fannie Mae pays $87,124 for servicing. Fannie Mae pays $61,000 to $129,000 for servicing.