Fannie Mae Servicing Guide A1-3-04 — Reporting the Repurchase

fnma-svc-a1-3-04

Fannie Mae Servicing Guide A1-3-04 — Reporting the Repurchase.

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Verbatim provisions from Fannie Mae Servicing Guide A1-3-04 — Reporting the Repurchase — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Fannie Mae Servicing Guide A1-3-04 — Reporting the Repurchase

Effective 2023-10-11 · publisher's stamp for this provision

A1-3-04, Reporting the Repurchase (10/11/2023) Introduction This topic contains the following: Overview Repurchase of an Acquired Property Repurchase of a Second-Lien Mortgage Loan Overview This topic provides requirements for reporting repurchases to Fannie Mae. The servicer must also report repurchases under the process described in the Investor Reporting Manual. Repurchase of an Acquired Property As soon as Fannie Mae receives the full amount of the repurchase proceeds, it will execute a quit-claim deed to convey the property to the responsible party (and will work with the responsible party to ensure that the reconveyance deed is appropriately recorded in the land records). Repurchase of a Second-Lien Mortgage Loan If the repurchase relates to a defaulted second-lien mortgage loan for which Fannie Mae advanced funds, the servicer must contact its Fannie Mae Servicing Representative (see F-4-02, List of Contacts) on how to report the repurchase (and how to remit the funds). Fannie Mae also instructs the servicer about how the servicer must report the repurchase (and remit the funds) when the servicer repurchases an acquired property after it submits an REOgram™ to Fannie Mae and the mortgage loan has been removed from Fannie Mae’s investor reporting system records.

Source: Fannie Mae Servicing Guide A1-3-04 — Reporting the Repurchase · source URL · snapshot cf63a82bbb4adfba

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Source of record: https://claudeforcompliance.com/regs/fnma-svc-a1-3-04/ · register fnma-svc-a1-3-04 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.