Fannie Mae Servicing Guide D1-4.3-01 — Transfers of Ownership on FHA and VA Mortgage Loans
Fannie Mae Servicing Guide D1-4.3-01 — Transfers of Ownership on FHA and VA Mortgage Loans.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Servicing Guide D1-4.3-01 — Transfers of Ownership on FHA and VA Mortgage Loans — 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 D1-4.3-01 — Transfers of Ownership on FHA and VA Mortgage Loans
D1-4.3-01, Transfers of Ownership on FHA and VA Mortgage Loans (11/08/2017) Introduction This topic contains information on transfers of ownership on FHA and VA mortgage loans. Transfers of Ownership on FHA and VA Mortgage Loans Transfers of Ownership on FHA and VA Mortgage Loans The servicer must evaluate and process the transfer of ownership for an FHA or VA mortgage loan in compliance with applicable regulations and procedures. When a transfer of ownership occurs for an FHA or VA mortgage loan that is not subject to a due-on-sale provision, the servicer must notify the applicable property insurance companies, tax authorities, FHA or VA (as applicable), and any other interested parties. If the new borrower does not provide their own property insurance policy, the servicer must request the insurer to prepare an endorsement to the existing property insurance policy to name the new borrower. The servicer must follow the procedures in Completing a Transfer of Ownership in F-1-17, Processing a Transfer of Ownership for detailed requirements related to executing the assumption (or assumption and release) agreement. Recent Related Announcements There are no recently issued Announcements related to this topic.