Fannie Extends Reimbursement Deadline For HOPE NOW Counseling

Mae has extended the time period for servicers to request reimbursement for counseling fees paid on behalf of borrowers to support delinquency resolution through the HOPE NOW Alliance. Effective immediately, servicers may request reimbursement for HOPE NOW Alliance-counseled cases that were initiated on and after July 1, 2010, through June 30, 2011. The cases must be invoiced no later than Sept. 30, 2011, and the reimbursement requests must be submitted to Fannie Mae on or before Nov. 30, 2011, Fannie says in its latest servicing policy update. 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. SOURCE: [link=]Fannie Mae


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