In November, 2012 Fannie Mae and Freddie Mac announced the end to their retained attorney networks for default cases referred to attorneys on or after June 1, 2013 and provided a new process for the selection of counsel. Under the new process, servicers must select default counsel and verify that those counsel meet the stringent criteria set by the GSE’s. Once selected by the servicer, the selection is presented to the GSE who then indicates its objection or approval (specifically “no objection”) to the selection. The GSE determination of objection or approval is servicer and state specific. If the GSE indicates its approval, then the firm must complete that GSE’s training and enter into limited retention agreements with the GSE.
Should you desire to seek Fannie Mae and/or Freddie Mac approval of The Wolf Firm to perform legal services for you in California, please contact The Firm’s Director of Client Relations Alkisti Karmokolias, at alkisti.karmokolias@wolffirm.com.