AFX is proud to provide title reports that comply with Fannie Mae’s foreclosure title cost requirements. As per Fannie Mae, “foreclosure-related title costs must be kept at a minimum and in compliance with Fannie Mae maximum allowable title costs.”
In order to ensure compliance with these requirements, AFX provides a tailored product for uninsured title searches that serve to keep these title costs to a minimum. To request an Uninsured Title Search, call us at 877-848-5337. Or, email us at info@afxllc.com.
✓ Title Search and Update Requirements
The maximum allowable foreclosure-related title cost includes:
- an initial two-owner title search dating back to the deed prior to the mortgagor’s deed,
- up to three title updates to the initial title search that are required and necessary to complete the foreclosure sale, and
- complete copies of all documents and a summary page.
Unless specified by Fannie Mae, the initial title search must be an uninsured title search without additional charges for insurance or guarantees.
The title search and any required updates must confirm title to the property and identify all recorded liens and documents affecting title and all parties that must receive notice of the foreclosure sale.
To view the specifications for Fannie Mae foreclosure title searches, click here.