Hurricane Harvey and Irma Update

Fannie Mae conducted a webinar for servicers this week, and several members of Cenlar’s management and staff participated. The webinar included Fannie Mae policy experts who provided an overview of available disaster assistance resources, as well as answers to any questions servicers had related to homeowners affected by the recent hurricanes.

Topics discussed included:

• Expectations and relief available to borrowers
• Servicing policies for mortgage loans affected by the recent hurricanes
• Servicer expectations
• Frequently asked questions

To help servicers provide important, accurate and consistent responses, Fannie Mae, in conjunction with Freddie Mac and FHFA, have put together sample Disaster and Hurricane relief scripts as well as a simple, one-page flyer explaining mortgage assistance available to affected borrowers.  We are pleased to confirm that our relief scripts are in line with Fannie Mae’s recommendations.

Also, as a member of the Fannie Mae Servicing Policy Forum, Cenlar addressed the reimbursement to lenders and servicers for costs associated with inspecting impacted properties. As of Thursday, September 7, 2017, Fannie Mae senior policy members and executives have stated that no specific decisions have been made on inspection fees for current loans or reimbursement of Fannie Mae-specific inspections. Fannie Mae is expecting to provide additional information within the next 30 days on this subject.

Cenlar management continues to be in contact with our counterparts at Fannie Mae and we will keep you updated on any changes.

For easy reference, Fannie Mae’s Disaster Assistance website is listed below , as well as the phone numbers for our claims department and disaster recovery team.

https://www.fanniemae.com/singlefamily/disaster-assistance

• Claims Department: 866-222-8118
• Disaster Recovery Team: 866-768-7354

We are here to help and provide support. Please contact your relationship manager or me should you have any questions.