Fannie Mae Servicing Guide C-2.2-02 — Assuming Responsibility for Conversion Notice Errors
Fannie Mae Servicing Guide C-2.2-02 — Assuming Responsibility for Conversion Notice Errors.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Servicing Guide C-2.2-02 — Assuming Responsibility for Conversion Notice Errors — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Servicing Guide C-2.2-02 — Assuming Responsibility for Conversion Notice Errors
C-2.2-02, Assuming Responsibility for Conversion Notice Errors (11/12/2014) If a borrower questions why the servicer did not provide notification of an upcoming opportunity to exercise a conversion to a fixed rate mortgage loan option and the borrower was entitled to such notification under Fannie Mae’s policy, the servicer must immediately offer the borrower the option of converting, provided that the borrower met the eligibility criteria on the option date. The servicer must follow the procedures in Correcting Conversion Notice Errors in F-1-01, Servicing ARM Loans to verify the correct interest rate. Recent Related Announcements There are no recently issued Announcements related to this topic.