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Servicer and Responsible Party Obligations for Bifurcated Mortgage Loans

Servicer and Responsible Party Obligations for Bifurcated Mortgage Loans 2025

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The document SVC-2013-12 from Fannie Mae outlines the obligations of servicers and responsible parties regarding bifurcated mortgage loans. It clarifies processes for repurchase, make whole payments, and indemnification related to these loans, defining key terms such as 'active bifurcated mortgage loan' and 'acquired bifurcated property.' The announcement details requirements for issuing requests, remitting payments, handling disputes, and maintaining records. Effective September 1, 2013, it emphasizes compliance with the Servicing Guide while introducing new responsibilities for managing bifurcated loans.

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Click ‘Get Form’ to open it in the editor.
Begin by reviewing the 'Issuance of Repurchase Request' section. Ensure you understand the obligations regarding repurchase, make whole payments, or indemnification requests.
Fill in the required fields for the 'Repurchase Statement'. This includes providing a unique email address for communication with responsible parties.
Calculate the 'Bifurcated Repurchase Price' based on your records. Make sure to include all necessary components such as unpaid principal balance and any applicable fees.
Once completed, review all entries for accuracy before submitting. Ensure that all supporting documentation is attached as needed.

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What is a bifurcated mortgage?

A bifurcated mortgage agreement is a type of financing arrangement where the mortgage is divided into two separate components, typically distinguishing between the principal amount and the interest payments.

What is loan servicing in a mortgage?

Loan servicing includes sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow funds), remitting funds to the note holder, and following up on any delinquencies.

Is a split mortgage a good option?

A split mortgage gives you the best of both worlds, allowing you to lock in a stable rate for security while keeping a flexible portion to take advantage of potential savings. Whether youre after rate stability, repayment flexibility, or the chance to save more, splitting your loan could be a smart move.

What is an example of a bifurcated?

A road that bifurcates splits in two, like the one in Berras adage. Other things can bifurcate (or be bifurcated) as well, such as an organization that splits, or is split, into two factions.

What is the difference between a mortgage servicer and a mortgage lender?

Your mortgage lender is the financial institution that originally loaned you the money. Your mortgage servicer is the company that sends you your mortgage statements and handles the day-to-day tasks for managing your loan.

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What is loan bifurcation?

What is a Bifurcated Loan? A Bifurcated Mortgage Loan is a single Mortgage Loan where the aggregate amount of the debt is divided among two separate Notes having the same (i.e., pari passu) payment priority, with both Notes being secured by a single Security Instrument.

How does a split mortgage work?

A split home loan is when you divide your loan into multiple parts - meaning you could nominate a portion of the loan to have a fixed interest rate and the remainder could have a variable interest rate.

Servicer and Responsible Party Obligations for Bifurcated Mortgage Loans 2025

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How to use or fill out Servicer and Responsible Party Obligations for Bifurcated Mortgage Loans

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Got questions?

What is a bifurcated mortgage?

What is loan servicing in a mortgage?

Is a split mortgage a good option?

What is an example of a bifurcated?

What is the difference between a mortgage servicer and a mortgage lender?

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What is loan bifurcation?

How does a split mortgage work?

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