Fannie Mae Memo | Prohibitions on Loss Sharing, Indemnification, and Settlement Agreements with Mortgage Insurers

I wonder if the $1.1 Billion BofA Settlement with Assured Guaranty had anything to do with this latest memo…

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Announcement SVC-2011-04

Prohibitions on Loss Sharing, Indemnification, and Settlement Agreements with Mortgage Insurers

Effective immediately, Fannie Mae is prohibiting servicers from entering into any agreement that modifies the terms of an approved mortgage insurance master policy on loans delivered to Fannie Mae. Prohibited agreements include, but are not limited to, agreements that directly or indirectly

  • modify master policy provisions for settling of claims,
  • limit the right of a mortgage insurer to conduct file reviews or investigate claims,
  • limit the right of a mortgage insurer to rescind coverage,
  • rescind or modify coverage, or
  • restrict notice to Fannie Mae of changes in coverage status.

Further, Fannie Mae prohibits loss sharing, indemnification, settlement or similar agreements of any kind between servicers and mortgage insurance companies that affect Fannie Mae’s interest in its mortgage loans.

Full memo below…

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4closureFraud.org

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Announcement SVC-2011-04
Prohibitions on Loss Sharing, Indemnification, and Settlement Agreements with Mortgage Insurers

Comments
9 Responses to “Fannie Mae Memo | Prohibitions on Loss Sharing, Indemnification, and Settlement Agreements with Mortgage Insurers”
  1. tonycat says:

    Socialists always want to wipe out the middle class – they are the ones who understand how they and the lower classes are getting screwed, and can think up ways to fight back. The middle class can relate to and explain to the lower less educated classes, so there is more chance of more people fighting back. Therefore, the middle class must go! The new government will be socialist, but probably hide its true nature like Hitler did, by claiming to be “patriots” or “loyal nationalists”. I agree with ivent, there is definitely something going on. Our private rights have been eroded by the Patriot Act, I guess our Congressional representatives are not smart enough to see that.

  2. Susan DeSimone says:

    l vent, Your writings scare me. How do you know? Where do you get all this information? I saw a great bumper sticker that reads: If you think we can trust our government, Ask the Indians. Enjoy this web site.
    Susan

    • l vent says:

      Lots of research. Alot of connecting the dots. This is a vast criminal enterprise. Instead of trying to shoot the messenger, why dont you do some homework yourself so you can contribute? Being scared is a GIANT COP OUT. That is what they want scared little victims that are too afraid to fight back,. That is the kind of nonsense that this same group of Nazis. used on the jews in the Holocaust, Grow up.

  3. decrepit says:

    FANNIE MAE IS EVIL!!!!!!!!!!!!!!!!!!!!!!!!!!!

  4. Mary says:

    Another piece of this jumbled puzzle. PMI. The loans were covered in case of default, the borrowers bought the insurance so the servicers collects on the debt from PMI. FNMA wants their interest protected. FNMA guidelines most certainly were used to approve all those millions of loans and that would include that PMI be required (but obviously little else) on any loan exceeding 80% LTV. (Exception of course.. the slick 80/20 that doesn’t even require PMI). All the players covering their bases but their just aren’t enough players to cover 65 million bases.

  5. l vent says:

    It’s all a show folks. They is no doubt in my mind they also own and control these very mortgage insurers and they are also the owners of the mortgages. It is a complete Kleptocracy and it is a Foreign one at that..

    • Mary says:

      Yes, I agree, they are one and the same. That is what I find so amusing. All these lawsuits, can’t imagine being in their heads trying to figure out how to save themselves from themselves.

    • l vent says:

      It is A/K/A TOO BIG TO FAIL. WHEN YOUR ENTIRE COUNTRY IS HIJACKED BY CORRUPTION BY A FOREIGN GOVERNMENT A/K/A THE REVIVED ROMAN EMPIRE/ A/K/A THE UN/NEW WORLD ORDER THIS IS WHAT HAPPENS. THEY OWN AND CONTROL EVERYTHING, THEY ARE A COMPLETE MULTINATIONAL KLEPTOCRACY. THEY WANT TO BANKRUPT EVERY NATION SO THEY CAN FIX THEIR PROBLEMS WITH THEIR NEW WORLD ORDER FASCISM AND THEN THEY OWN IT. THEIR ULTIMATE GOAL IS NO SOVEREIGN NATIONS THEY ARE EXACTLY WHO STOLE AND SPREAD OUR WEALTH AROUND THE WORLD.. OUR U.S. CONSTITUTION OVERULES THEM. NATIONAL SOVERIEGNTY WILL PREVAIL.

      • l vent says:

        This TYRANNY is now using Nazi class warfare to cause worldwide impoverishment. They want to wipe out the existing middle class here in AMERICA completely and make the upper middle class the new middle class.It is called TRICKLE UP POVERTY, to coin a phrase used by radio show host, Michael Savage. The Republicans and the Democrats are both in on this. DEATH TO THE FASCIST NEW WORLD ORDER TYRANNY.

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