Posted on Jan 08, 2009 under xn--zqqs84h3is.com | edit
How do I find a book that explains how to service a home equity loan
The Fannie Mae (Federal National Mortgage Association -- FNMA) manual
for loan service providers can be seen online at:
Welcome to AllRegs' Online Fannie Mae Single-Family Guides
http://www.allregs.com/efnma/index.asp?dv=0&sd=/&sm=1&sp=fnma&sq=_&st=_&sv=0&sx=/&sy=0&sz=0&t=0&tc=/&tp=/
"While this version includes the complete text of the Guides, a
version with additional functionality is available from AllRegs for a
nominal fee.
This includes an enhanced search feature, comprehensive alphabetic
index, extensive topic outline, personal notes/bookmarks, company-wide
notes, and more.
Other information available on AllRegs includes:
Fannie Mae's Multifamily Guides, underwriting guidelines and forms for
other agencies, investors, and insurers, and state and federal
compliance laws, regulations, and forms.
For more information contact AllRegs at (800) 848-4904
or visit http://www.allregs.com"
Copies can be purchased from the above.
SEARCH TERMS
://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=Fannie+Mae+manual
hlabadie-ga
When can I expect an answer about where to find a textbook that
explains what a lender must do in order to service a home equity loan.
I need to know all the functions that must be performed by a lender
in order to ensure there is no loss of the loan asset.
Yes, that is exactly what I am looking for. Can you tell me what the
title is and where I can order it from?
To service a loan generally means to pay the interest on it. Are you
really looking for a book on how to make interest payments? Could you
explain more about what information you seek?
I want a textbook that explains all the functions that a lender must
perform in order to service an active home equity loan or line of
credit. Some of the items included would be billing and payment
processing, insurance monitoring, tracking deliquency, tracking the
lien position, etc.
Is this the sort of thing that you need?
"III, Introduction (01/31/03)
[Page : 301 01/31/03]
This Part -- General Servicing Functions -- discusses the general
administrative functions involved in servicing first and second
mortgages that occur on an ongoing basis, as well as a few functions
that are unique to a particular type of mortgage or to a special,
nonrecurring circumstance. These functions may begin when mortgage
payment records are established for a new mortgage and often continue
until a mortgage is paid off, repurchased, or otherwise removed from our
records.
The procedures in this Part describe our requirements for servicing
whole mortgages, participation pool mortgages, and MBS pool mortgages.
However, they do not address special servicing requirements that may
have been imposed under the terms of a negotiated purchase transaction.
A servicer is totally responsible for taking all steps necessary to
assure that the terms of a negotiated contract are followed.
The requirements or procedures in this Part generally apply to all
mortgages that are serviced for us. Insofar as possible, we set out
instances when our servicing requirements vary for a particular lien
type, mortgage type, amortization method, remittance type, servicing
option, or ownership interest. Unless stated otherwise, the servicer may
assume that the same procedure or requirement applies for any mortgage.
This Part III consists of 13 chapters:
Chapter 1 <../xref.asp?did=fnma..servicing..iii-ch-1> -- Mortgage
Payments -- discusses the methods for applying and accounting for both
scheduled and unscheduled mortgage payments, the administration of
escrow deposit accounts, and our requirements for providing annual
mortgage account statements.
Chapter 2 <../xref.asp?did=fnma..servicing..iii-ch-2> -- Taxes and
Assessments -- discusses our requirements for maintaining accurate
records on the status of any taxes, ground rents, or special assessments
for a property -- and the servicer's responsibility for advancing funds
to protect our interests.
Chapter 3 <../xref.asp?did=fnma..servicing..iii-ch-3> -- Property
Inspections -- discusses the different circumstances under which a
servicer is expected to inspect the properties that secure Fannie
Mae-owned or -securitized mortgages.
Chapter 4 <../xref.asp?did=fnma..servicing..iii-ch-4> -- Transfers of
Ownership -- discusses the procedures for handling transfers of
ownership for FHA, VA, conventional, and RHS mortgages and the
conditions under which due-on-sale or due-on transfer provisions should
be enforced.
Chapter 5 <../xref.asp?did=fnma..servicing..iii-ch-5> -- Notices of
Liens or Legal Actions -- Notices of Liens or Legal Actions -- discusses
the servicer's responsibility for keeping new liens that would be
superior to our lien [Page : 302 01/31/03] from being attached to the
property and for notifying us when such liens are attached or when any
other legal action that affects the property or the borrower occurs."
hlabadie-ga
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