Reminder for the FHA Marketing process
As a reminder, the Federal Housing Administration (FHA) Marketing process has been updated to require the home to be listed in the Multiple Listing Service (MLS) 15 days prior to the offer documents being submitted to the Upload Initiation Documents task in Equator.
Equator message when accessing documents for properties dates prior to December 31, 2013
Effective March 28, Equator will begin purging all documents and images for properties date prior to December 31, 2013.
Fannie Mae Short Sales and the HomePath process
Effective November 10, Fannie Mae Short Sale loans must follow the HomePath process
Changes to the MLS Listing Requirements for HUD properties and Updated FHA Addendum
All Housing and Urban Development (HUD) Properties must now be listed for a minimum of 15 days before any purchase contract can be reviewed by the servicer and updated FHA Preforeclosure Sale Addendum now required.
Updates to Short Sale Evaluation Letters for Direct Entry into Short Sale
As part of the Consumer Financial Protection Bureau (CFPB) servicing standards, an Evaluation Notice is required once a customer’s complete borrower package is received advising a customer of all potential loss mitigation options.