Lender Letter (LL-2021-02) Updated: May 4, 2022 To: All Fannie Mae Single-Family Servicers HWN9weRTUP@]CbLEIUmHGMdNrt\`g}Vw;O$slxH&_)5Sa^S&nGInS6yx62+ H]G {|JTsw!P2L9m7G-p8k .D SB2(YjJm,R Powered by Loebig Ink, LLC, Home | En Espanol | Site Map | Disclaimer, 8720 Georgia Avenue, Suite 301 | Silver Spring, Maryland 20910, Maryland Criminal Defense Crimes and Procedure, Domestic Violence Maryland Criminal Defense Attorney, Manslaughter Maryland Criminal Defense Lawyer, Second Degree Murder Maryland Defense Lawyer, Child Pornography Maryland Sex Crime Lawyer. They perform an important role in the nation's housing finance system - to provide liquidity, stability and affordability to the mortgage market.They provide liquidity (ready access to funds on reasonable terms) to the thousands of banks, savings and loans, and mortgage companies that make loans to finance housing. I want as many scams to be exposed as possible, as well as drill home the importance of doing your research before responding to any letter, email, etc. This program provides low borrowing cost, flexible structures, and a . View more posts about Credit Union Updates. and contain the line "Notice of FNMA Enhancement." Yes, if you receive a notice FNMA Enhancements correspondence in the mail, it is a scam and you should immediately throw it in the trash. Very misleading and deceptive practice. ProFed members are reporting thatthey havereceivedletters in the mail telling them to call a numberregarding their mortgage before a certain date to benefit from a cash disbursement, shortened payment term, or lower mortgage payment. Ilocated others online who received the exact same letter, but with a different financial institution listed at the bottom. It was founded in 1938 by Congress as a government-sponsored enterprise in order to provide funding to make housing more affordable. This refinancing could save homeowners an estimated $100 to $250 per month. mine was sold many many years ago and they still got the mortgage company wrong. If you click the 'link' in the body of the destination link above, the wording of the letter I received today is verbatim. Under the temporary eligibility guidelines, effective immediately, homeowners who missed payments and entered into a loss mitigation solution - such as a repayment plan, payment deferral, or loan modification - are eligible for a new refinance or purchase mortgage after three timely payments. provide Fannie Mae with copies of the existing interest rate hedge documents. We recommend checking your eligibility as soon as possible before deadlines are announced or requirements are changed. FHA loans allow lower credit scores than conventional mortgages do, and are easier to qualify for. Please do not send personal/financial information via this method. Took a look at the bottom and boom. hXmo6+b;"@^MW42@5\m=G*V4 B In addition, we do not sell or distribute your personal information to non-affiliated third parties. If you head over to Fannie Maes website, youll find a wealth of information under the Homeowners & Renters tab. (yo|PcRhHM-c!cHF.* e;Z!jGjvY3hU>Js;3ZM=>*!Yto;XIj"hkx0xQ1R#ff[elv*~cyMtq-M? Menu ceramic cutting tools advantages and disadvantages. Such scams have become more common since loan modifications started after the Great Recession of 2008. To enhance this particular program, FNMA expanded its eligibility back in June 2021. 724 0 obj <> endobj Fannie Mae is reminding servicers of their authority to approve eligible mortgage loan modifications for the Fannie Mae Standard Modification and the Fannie Mae HAMP Modification. For an interest rate swap, you must determine and advise Fannie Mae if the Borrower's interest rate hedge payment obligations are supported by a: Fannie Mae collateral agreement or credit enhancement instrument; or Be aware of the "Understanding FNMA Enhancement" letter scam.
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