Seller/Servicer Memorandum 20-05

Date:  May 4, 2020

Sheena Villafuerte, Servicing Manager, 907-330-8222

In response to the State of Alaska Supreme Court ruling No. 7440 issued on April 17, 2020, AHFC is implementing a new process of notifying borrowers after the Notice of Default is recorded on their property that they have the option to schedule an informal evidentiary meeting with AHFC.

This notice and the meeting process will be between AHFC and the borrower. At this point there will be limited changes with the foreclosure process for our Servicing Partners.

Servicing Partners should provide the following information, for each borrower, when providing a copy of the recorded Notice of Default to AHFC;

• Current mailing address
• Current phone numbers
• Current email addresses (if available)

Additional information may be requested, based on the borrower’s comments at the meeting.

Foreclosures and Repossessions

Servicing Guide Section 13001.06