This section provides general information regarding a lender’s due diligence responsibilities when servicing delinquent loans. Lender/servicers must follow the due diligence procedures detailed in federal regulations; noncompliance could result in the loss of guarantee. More detailed information regarding due diligence requirements can be found in the Common Manual.
General claim filing requirements for the types of claims listed below are also provided in this section. A claim may be filed with ISAC by a lender for the following reasons: