USFN Home Home | Contact Us |  Site Map | Terms of Use | Privacy | 
ABOUT USFNMember DirectorySEMINARS, TRAINING & EVENTSPUBLICATIONS & PRODUCTSINDUSTRY ISSUES & INFO RESOURCESARTICLE LIBRARYJOBMARTMEMBER GATEWAY
NMSRD Links
 »  INDUSTRY ISSUES & INFO RESOURCES
   »  Client Resource Center
   »  Commercial/Multifamily Division
   »  Servicing Topics
   »  NMSRD Links
   »  Industry Links
   »  Legal Terms Glossary
   »  USFN Industry Listserve


USFN 20th Anniversary

Guestbook
Search             Print this page     Email a friend



 
 

NMSRD -- The National Mortgage Servicer's Reference DirectoryTM (26th ed.) Links

If you are still using a printed NMSRD, be advised that it is NOT current. The latest edition (the 26th) is 100% digital, which allows for continual updating. It was released on February 9, 2010, and is accessible by online subscription only. Click here for information on ordering a subscription to the 26th ed.

 

CHAPTER 1 - State Summaries

Click here for a listing of the state-by-state subjects addressed in narrative fashion in Chapter 1, State Summaries, NMSRD.

CHAPTER 1 - State Statutes

Click here to review the state-by-state subjects addressed in laundry-list fashion in Chapter 1, State Statutes, NMSRD.

CHAPTER 7 - Servicemembers Civil Relief Act (SCRA)

The Housing and Economic Recovery Act of 2008 (HERA) took effect on July 30, 2008. Contained within the more than 200 pages are some significant changes to the SCRA, including those discussed below:

The first two provisions of Title II of HERA provide for: (1) The temporary increase in the maximum loan guaranty amount for certain housing loans guaranteed by the Secretary of Veterans Affairs; and, (2) Counseling on mortgage foreclosures for members of the armed forces returning from service abroad. The first two provisions do not require any additional focus from the mortgage servicer's perspective. 

The third provision of Title II of HERA provides for enhancement of protections for servicemembers relating to mortgages and mortgage foreclosures. Essentially, this provision amends sections 527 (interest rate reduction) and 533 (mortgage foreclosure) of the SCRA.

The primary change to section 527 of the SCRA is that the interest rate reduction for a mortgage loan is for the period of military service AND ONE YEAR THEREAFTER. This amendment appears to be permanent at this time.

The primary change to section 533 of the SCRA is  the change of time in sections (b) and (c) from 90 days to 9 MONTHS. This amendment will remain in effect until 12/31/2010. Section 533 will revert back to the prior version on 1/1/2011.

Servicemembers Civil Relief Act

  1. Online Military Service Verification (available to the public - no password required)

  2. Bankruptcy-Related Info
    : On October 20, 2008, President Bush signed into law S. 3197, the "National Guard and Reservists Debt Relief Act of 2008," which temporarily exempts members of the Armed Forces reserves and the National Guard from a means test in determining eligibility for Chapter 7 bankruptcy relief, if, after September 11, 2001, they were on active duty or performing a homeland defense activity for at least 90 days.

  3. <BACK TO TOP>

  4. CHAPTER 8 - FANNIE MAE

HAMP -- See USFN's Client Resource Center

HAFA -- SVC-2010-07 (June 1, 2010) Introduction of Fannie Mae's Home Affordable Foreclosure Alternatives Program

Fannie Mae Policy re Immediate Relief for Homeowners with Problem Drywall (6/17/10)

Announcement SCV-2010-06 (4/28/10) -- re Servicing Guide Part VII, Delinquency Management & Default Prevention; Part VIII, Foreclosures, Conveyances and Claims, and Acquired Properties. 

Foreclosure and Bankruptcy Attorney Network and Attorneys' Fees and Costs --  Announcement 08-19 (8/6/08). Also see Announcement SVC-2010-05 (3/30/10) re Misc. Servicing Policy Changes (including increases in foreclosure attorney fees for New Mexico and Vermont).

Increase in Incentive Fees for Loss Mitigation Alternatives -- 
Announcement 08-20 (8/11/08)

Reverse Mortgages -- Announcement SVC-2010-01 (Trial Balance Reconciliation Requirements for Reverse Mortgage Loans, 1/15/10)

"First Look" Initiative  (11/24/09)

Deed-for-Lease Program (D4L) -- Announcement 09-33 (11/5/09)

Announcement 09-38 (12/24/09) and Announcement 09-27 (8/5/09) -- Miscellaneous Servicing Policy Changes

Servicing Policy Updates "
New Modification Program Resources Available"

New Notice of Transfer of Mortgage Loan Ownership (6/16/09) -- Lender Letter 05-2009

Announcement 09-25,"Trial Period Guidance for the HAMP" (7/13/09), updates policies outlined in Announcement 09-05R. Announcement 09-05R -- Policy clarifications and additional instructions regarding the Home Affordable Modification Program (4/21/09, reposted 5/15/09). Also see the FAQs re Servicing Guide Announcement 09-05R: HAMP, which were released on 7/6/09. HAMP -- also see USFN's Client Resource Center.

HMPadmin.com Servicer Web Site and Base NPV Model for the Home Affordable Modification Program

Updates to the HomeSaver Advance Foreclosure Prevention Alternative -- Announcement 09-07 (3/27/09)

Miscellaneous Policy Changes -- Announcement 09-03 (2/24/09) and Property Preservation Matrix and Reference Guide.

Servicing Policy Update -- Changes to Loan Modification Agreements (2/3/09)

News Release -- Fannie Mae Announces National REO Rental Policy (1/13/09)

Streamlined Loan Modification Program Webpage, with reference to Announcement 08-33 (12/12/08)

Single-Family Master Trust Agreement, the Amended and Restated 2007 Single-Family Master Trust Agreement, and Certain Servicing Clarifications and Changes, Including Expanded Loss Mitigation Flexibility -- Announcement 08-31 (12/8/08)

<BACK TO TOP>

CHAPTER 9 - FREDDIE MAC

HAMP and HAFA -- See USFN's Client Resource Center

Forbearances for Borrowers with Single-Family Homes Affected by Problem Drywall (6/18/10)

Freddie Mac Bulletin 2010-16 (7/16/10), includes links to amended Exhibit 57A (Approved Attorney Fees & Title Expenses) and Exhibit 74 (Expense & Income Codes for Form 104SF)

Freddie Mac Bulletin 2009-22 (8/20/09), includes amendments to Exhibit 74 (Expense & Income Codes for Form 104SF) providing new expense reimbursement codes for attorney fees related to bankruptcy.

Freddie Mac Bulletin 2009-14 (6/17/09), includes link to "Exhibit 57: 1- to 4-unit Property Approved Expense Amounts" containing the updated maintenance allowables.

NEW WEB-BASED REIMBURSEMENT SYSTEM ANNOUNCED: See Bulletin 2010-10 (4/22/10), as well as Freddie Mac's reimbursement system web page.

Home Affordable Modification program Web page  --  HAMP (and HAFA): Also see USFN's Client Resource Center.

Homeowner Affordability and Stability Plan

News Release re New Workout Plan for High Risk Loans (2/3/09)

Bulletin 2008-6 (12/18/08) -- Changes to Selling & Servicing Requirements, includes Exhibits

Bulletin (1/9/09) and Bulletin (12/12/08) -- Streamlined Loan Modification Program

<BACK TO TOP>

CHAPTER 10 - HUD Insured Loans


CHAPTER 11 - USDA - Rural Development


The Single Family Housing Guaranteed Loan program has provided a spreadsheet with work sheets for each state containing the contact information of Guaranteed Rural Housing (GRH) processing offices nationwide. The worksheets include point of contact, email addresses, delivery addresses, telephone numbers, and fax numbers. Further questions regarding program delivery can be made to each state or to the national office at 202.702.1452. 

<BACK TO TOP>


CHAPTER 12 - Veterans Administration


  • CHAPTER 13 - PRIVATE MORTGAGE INSURANCE

MGIC has created time frames to provide, by state, an appropriate time interval between the due date of the first unpaid installment and claim filing.  The state time frames were established by adding the following time intervals: 4 months from the date of the first unpaid installment to initiate foreclosure action; a time period to acquire title to the property, varying by state and method of foreclosure, and 60 days from title acquistion to submit the claim.  Time frames chart: click here.

<BACK TO TOP>

     
625 The City Drive, Suite 310, Orange, CA 92868.
P (800) 635-6128 or (714) 838-7167  ·  F (714) 573-2650  ·  E info@usfn.org
Copyright © 2000- by USFN. All rights reserved.