On 1 September 2010 Fannie already limited the amount vendors could charge attorneys for technology and invoicing fees to $25 per loan and $10 for submitting electronic invoices. But from 1 February 2010 “attorneys and trustees handling Fannie Mae mortgage loans may no longer directly or indirectly be charged any technology or electronic invoice submission fees by the servicer or any outsourcing companies or third-party vendors utilized by the servicer,”
It also prohibited any servicer from requiring or encouraging attorneys to use specified vendors. And, Fanny Mae also made clear that a conflict of interest between servicers and theri providers is no longer allowed: “Fannie Mae is also reminding servicers that their arrangements with vendors and other service providers, particularly affiliates, must not be tainted with an actual or perceived conflict of interest,”
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