UTA Requests Fee Increase For Nonjudicial Foreclosures in California

Fannie Mae

Following Fannie Mae’s announcement of an increase in allowable foreclosure attorney fees for trustees servicing several states, UTA has requested of Fannie an increase in allowable fees for nonjudicial foreclosures in California.

Fannie has increased fees in Washington and Oregon, from $675 to $1,000 and in Nevada from $600 to $1,100. 

In a letter to both Fannie Mae and Freddie Mac, UTA wrote: “The FNMA fee schedule has been in existence for at least 15 years … during the past several years, changes at the legislative level and with FNMA’s requirements, have significantly increased the complexity, length and cost of performing nonjudical foreclosure in California.”  UTA detailed changes that have impacted the nonjudical foreclosure process in California and concluded that “maintaining the quality of nonjudical foreclosures in California is obviously in both FNMA ad the trustees’ best interest.”

Read UTA’s Letter to Fannie Mae