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::  Legal Issues in Mortgage Servicing Seminar  (July 9-10, 2009 in Chicago, IL) - Register NOW! Click here for more info.

::   On May 20, 2009 the President signed S. 896, enacting the Helping Families Save Their Homes Act of 2009, described as an Act to prevent mortgage foreclosures and enhance mortgage credit availability. This Act will have long term and far reaching effects on the mortgage industry and the ways in which servicing is performed. Addressed in the Act are Fraud, Loan Modification, Moratorium Provisions, Enhanced Oversight of TARP, and Tenant Protections in Foreclosure (Title VII). Each of these elements will require careful study and, in particular, new provisions enhancing and extending the rights of tenants occupying properties in default raise many questions and concerns. Mortgage servicers are urged to contact their legal counsel for guidance on how to proceed. For your convenience, you may find the entire language of the Act HERE. In addition, a copy of the recent Federal Register Notice on Title VII may be found HERE.  A related HUD Mortgagee Letter is expected shortly. Further updates will be made as information becomes available.

::  Fannie Mae & Freddie Mac Announcements regarding Home Affordable Modification Program -- Fannie Mae Servicing Policy Updates "New Modification Program Resources Available," including Announcement 09-05R (4/21/09).  Freddie Mac has launched its REO Rental Initiative (announced 3/5/09). Further, Freddie Mac has stopped FORECLOSURE SALES on loans eligible for the Home Affordable Modification Program. Freddie Mac Bulletin 2009-8 (4/7/09), Bulletin 2009-10 (4/21/09), and Bulletin 2009-13 (5/26/09) contain its requirements for the Home Affordable Modification Program. Also see Freddie Mac Bulletin 2009-5 (3/4/09), Bulletin 2009-9 (4/16/09), and Bulletin 2009-12 (5/12/09) regarding Relief Refinance Mortgage^SM.

::  State Information regarding Home Affordable Modification Program -- The Supreme Court of South Carolina Administrative Order re Mortgage Foreclosures and the Home Affordable Modification Program (5/22/09).

::  NMSRD - The National Mortgage Servicer's Reference Directory™  The updated and expanded 25th ed. NMSRD was released in Sept. 2008. Click here for more information and to order your copy today. For NMSRD supplemental info (between-edition updates), see  NMSRD Links. Info re the VA Loan Electronic Reporting Interface (VALERI) can be found here (go to the NMSRD/Ch. 14/VA info).

::  Vacant Property Registration Matrix (references enacted ordinances, as well as proposed ones. If you know of more, please send an email to: info@usfn.org). Also, the Mortgage Bankers Association of America (MBA) has been coordinating industry efforts and response in this area and has information posted regarding appropriate contacts for property registration at mortgage servicing companies, as well as information concerning the MERS® registration program, which is an optional registration area for servicers. To learn more click here.

::  LATEST Updated State-by-State Resources (2008-2009) - Foreclosure Desk Guide, Foreclosure Timelines Matrix, Bankruptcy Desk Guide, Loss Mitigation Desk Guide, and Privacy/Info Sharing Desk Guide.

::  Bankruptcy News - Access information including judicial decisions and recent BK articles from USFN attorneys re BAPCPA and other current bankruptcy topics. LENDERS' BANKRUPTCIES - CLICK HERE to access further info on lenders' bankruptcy filings, as well as PDFs of certain dockets, pleadings, and other documents.

::  Disaster Resource/Info Page for the Mortgage Industry - click here.

::  USFN JobMart - Employers and job seekers click here to access this valuable resource.

::  USFN OnSite Training - Accepting Reservations for Summer 2009 and beyond. More info ...

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