Trademark Title - June 2010 Newsletter
Fannie Mae 's Delinquency Rate Falls for First Time in Three Years In its monthly summary report just released, Fannie Mae said the serious delinquency rate on single-family mortgages in its portfolio dropped to 5.47 percent in March, down 12 basis points from 5.59 percent in February. 
It’s the first time the GSE’s serious delinquency rate has declined since March 2007, when it was a mere 0.62 percent.
Veterans Affairs Department Revises Loan Modification Guidelines
The U.S. Department of Veterans Affairs (VA) has issued new guidelines for modifying VA-guaranteed home loans. The new procedures are effective immediately, and give servicers the authority to restructure distressed loans in accordance with the administration’s Home Affordable Modification Program (HAMP) if other loss mitigation options have been exhausted.
The VA HAMP-style modification authority can be utilized only if the following three requirements are met: 1) borrower does not qualify for traditional home retention loss mitigation, 2) the property is the borrower’s primary residence, and 3) the VA HAMP modification is agreed upon prior to the HAMP expiration date of December 31, 2012.
Contact us for information about title insurance and to learn more about our company. Proudly serving our clients in 10 convenient locations throughout MN.
Trademark Title Services, Inc.
(952)226-7900 main
(952)226-7901 fax
www.trademarktitleservices.com
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