Announcement SVC-2020-07 – Servicing Guide Update

The December Servicing Guide update removes the property-level earthquake insurance requirement on mortgage loans on all Puerto Rico properties, and on Guam properties constructed of masonry. It also incorporates the payment deferral policy communicated in LL-2020-05, the incentive fees for retention workout options as outlined in LL-2020-09, and updates to accurately reflect the guaranty fee and guaranty fee buydown charges drafting schedule.