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2 Responses to “FNMA: Servicers may no longer directly or indirectly charge attorneys or trustees any technology or electronic invoice submision fees. FNMA will reimburse servicers for these fees up to a certain amount.”

1. Herman Thordsen says:

   February 4, 2011 at 11:31 pm

   How do you define “indirectly charge”
2. admin says:

   February 7, 2011 at 6:16 pm

   You can find Announcement SVC-2010-18 on Fannie Mae’s website for full details. Also, below is an excerpt from the announcement:

   “Effective for charges incurred on or after February 1, 2011, with respect to mortgage loans previously referred to attorneys or trustees as well as mortgage loans referred to attorneys or trustees on or after that date, attorneys and trustees handling Fannie Mae mortgage loans may no longer directly or indirectly be charged any technology or electronic invoice submission fees by the servicer or any outsourcing companies or third-party vendors utilized by the servicer. These charges include, without limitation, any fees charged on a per loan basis, any fees charged on a “click charge” basis, and any fees for entering data into the servicer’s systems or any other systems or for accessing data in the servicer’s systems or any other systems.

   Servicers must directly pay any outsourcing companies or third-party vendors utilized by the servicer for any technology or electronic invoice submission fees. Servicers must also ensure that attorneys and trustees are permitted to integrate the systems used by the attorneys and trustees with those of the outsourcer or third-party vendor utilized by the servicer without any cost to the attorney or trustee.”