Author: Jeffrey Clark

In April 2019, Fannie Mae updated its Servicing Guide, LoanSphere Invoicing, and the Servicer Expense Reimbursement Job Aid.  SVC-2019-02 provides the updated Servicing Guide Topics and a brief description of the updates.  The LoanSphere Invoicing 19.3 Release Notification provides the updates to LoanSphere Invoicing.  CRFS has conducted a thorough review of all of the updates… Read more »

On March 27th, 2019, the Federal Housing Administration (FHA) published an update to its Single Family Housing Policy Handbook 4000.1 (SF Handbook). The Transmittal provides the Handbook Sections and a brief description of the updates.  CRFS has conducted a thorough review of all of the updates made to the Servicing and Loss Mitigation Section as… Read more »

The VA is moving the VALERI system to a new platform that will be available May 28th, 2019. The transition to the new platform will greatly impact the VA claims submission process, so we would like to share the transition timeline we have received. April 1st : last round of post audit selections until after… Read more »

CRFS co-founder Jodi Gaines moderated a blue ribbon panel of experts on the value and importance of the FHA’s CWCOT program at the recent MBA Servicing Conference & Expo. Initiated in 2015 under “ML 14-24,” the Mortgagee Letter became effective for all foreclosure sales associated with defaulted FHA-insured mortgages scheduled on or after February 1, 2015.  There are several… Read more »

CRFS is once again participating in a full slate of industry conferences and trade shows in 2019, and we’ll be speaking at quite a few. We look forward to engaging with our clients and partners at these events, so here’s the current list of shows we’re scheduled to attend.  We hope to see you at… Read more »

With the federal government currently in a state of partial shutdown with no clear timeline for resolution, CRFS would like to communicate the impact that clients and partners may see with the claim filing process. Our Compliance Team has put together the following information based on what we know at this time. As more information becomes… Read more »

Having recently celebrated 15 years in the mortgage claims management business, Claims Recovery Financial Services (CRFS) unveiled their evolved brand and launched their comprehensive new website, in advance of several industry conferences this fall. New website.  CRFS’ new website was launched in August.  Those interested can get to know the team and the reasons why CRFS… Read more »

Fannie Mae released an updated Servicer Expense Reimbursement Job Aid on September 19, 2018. The release of this job aid continues Fannie Mae’s efforts to simplify communication and streamline processes via Fannie Mae’s Expense Straight Through Processing efforts. After a thorough review of the job aid, CRFS has determined the following changes which impact the… Read more »

On September 27, 2018 the Office of Inspector General (OIG) released Audit 2018-LA-0007 in which it conducted a review on HUD’s preforeclosure sale claim process. After conducting their review, the OIG stated HUD currently has insufficient requirements and procedures in relation to the preforeclosure claim process. Specifically, HUD does not have the necessary procedures in… Read more »

Last Line of Defense: Claims Management The teams that oversee the various aspects of pre- and post-foreclosure sale claim production strive toward a single ultimate end goal—to maximize the retrieval of all eligible claim proceeds. They coordinate to secure qualified principal balance deficiencies and default-related servicer advances while maintaining adherence with investor/insurer guidelines. The layered… Read more »