Fannie Mae Clarifies Foreclosure Sheriff’s Costs Reimbursement Process

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On January 9, Fannie Mae issued a Servicing Notice regarding claims for reimbursement of foreclosure sheriff’s costs. Noting that some states require that the sheriff’s office perform some or all of the tasks associated with completing a foreclosure sale, the notice clarifies that when a servicer files a claim for reimbursement of the sheriff’s costs associated with foreclosure activities, Fannie Mae may require that the servicer provide supporting documentation with its request. Fannie Mae prefers that such costs be documented in a cost sheet on the sheriff’s office letterhead, but the notice includes an attachment listing other acceptable forms of documentation. The notice provides other reminders regarding the sheriff’s costs claim reimbursement process and supporting documentation.

Topics:  Fannie Mae, Foreclosure, Reimbursements, Sheriff's Cost

Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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