Author: Jeffrey Clark

On August 23, 2018, the USDA Rural Housing Service published a Proposed Rule for the Single Family Housing Guaranteed Loan Program to the Federal Register.  In a recent update, the agency has advised that this rule is in its final state and expects the rule to be published by the end of this month. The… Read more »

On October 24, the 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. The updates to these sections may be implemented immediately, and must be implemented no later than January 2, 2020. CRFS has conducted a thorough… Read more »

The CRFS team has been very active in recent weeks participating in industry events, including the MBA Annual Conference and Expo in Austin and the National Property Preservation Conference in Washington, DC.  We were proud to serve as the Technology Sponsor at NPPC 2019, and our own Director of Compliance Sean Snook was part of… Read more »

CRFS, the mortgage industry’s premier provider of claim filing and recovery services, is pleased to announce the successful launch of a new organizational design strategy that allows it to attract and retain experienced claims professionals from around the country.  The innovation lies in the fact that rather than building and maintaining multiple physical work sites… Read more »

The CRFS team is looking forward to the upcoming Five Star Conference and Expo set for September 23-25 in the Big D, Dallas, TX.  If you’d like to connect with us during the event, call or e-mail Jeffrey Clark at 585-590-5422 or jeffrey.clark@crfservices.com. Learn more about the conference here… Hope to see you there!!

HUD released Mortgagee Letter 2019-14 last week which positions Disaster Loan Modifications and Disaster Partial Claims as a permanent Loss Mitigation Option for Servicers to utilize as part of their Loss Mitigation strategies.  These options were introduced at the beginning of 2018, however they were a temporary program with a sunset date of 5/1/2019.  HUD… Read more »

For Immediate Release August 23, 2019 CRFS Announces Departure of Co-Founder and Vice Chair Jodi Gaines   Albion, N.Y. – Claims Recovery Financial Services, LLC (CRFS), the mortgage industry’s premier provider of claim filing and recovery services, announced today that Co-Founder and Vice Chair Jodi Gaines has decided to voluntary resign her role with CRFS… Read more »

On July 15, Freddie Mac implemented updates that eliminated many property management functions which were formerly required of Servicers. These changes are effective for properties with a foreclosure sale held, or deed-on-lieu executed, on or after this date, as well as for properties which are in active REO status as of this date. CRFS has conducted… Read more »

In its request for feedback, the FHA indicated that it is particularly interested in public comments addressing the following issues (the CRFS feedback, which was delivered to HUD the first week of July, is reproduced below):  3.0 Obstacles, Benefits, and Drawbacks 3.0.1 FHA Single Family Loan Sale Servicers (1) What obstacles exist to participation in… Read more »

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 »