DSNews The homepage of the servicing industry
""Fannie Mae"":http://www.fanniemae.com said Monday that it is extending the time period for servicers to request reimbursement for counseling provided by ""HOPE NOW Alliance members."":http://www.hopenow.com/members.php
[IMAGE] [COLUMN_BREAK]The GSE covers the cost of counseling fees paid by its servicers on behalf of borrowers who turn to the HOPE NOW Alliance to resolve mortgage delinquencies.
Effective immediately, servicers may request reimbursement for HOPE NOW counseled cases that were initiated on and after July 1, 2010 through June 30, 2011. The cases must be invoiced no later than September 30, 2011, and the reimbursement requests must be submitted to Fannie Mae by November 30, 2011.
The amount of the reimbursement remains at a maximum fee of $150 per case for each mortgage loan that is owned or securitized by Fannie Mae and serviced under Fannie Mae's special servicing option.
The process for submitting requests for reimbursement also remains unchanged and is described in a ""notice to lenders"":https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/ll0609.pdf on Fannie Mae's business site.
