Executing and Record the Loan Adjustment Agreement
The servicer is responsible for making sure the mortgage loan as customized complies with appropriate laws and regulations, conserves Federal National Mortgage Association’s basic lien position, and it is enforceable against the borrower(s) in accordance with the terms and conditions. The servicer must complete the mortgage customization according to supplying a Trial duration Arrange and Completing a Fannie Mae Flex adjustment in D2-3.2-07, Fannie Mae Flex Adjustment.
To be able to ensure that the modified home loan holds their first lien position and is also completely enforceable, the servicer must take the actions outlined in appropriate dining table. Continue reading