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Fannie Mae Updates Reverse Mortgage Loan Servicing Manual

Sep 24, 2018By

In an effort to help reverse mortgage servicers with post-foreclosure sale responsibilities and fees, Fannie Mae has updated its loan servicing manual regarding real estate owned (REO) inventory. Under the changes to its Reverse Mortgage Loan Servicing Manual, Fannie Mae will assume responsibility for ground rents, co-op fees and assessments, and property taxes “for certain properties […]