Servicing Policy Communications
Access a list of Servicing Announcements, Lender Letters and Notices to stay current on Fannie Mae's latest servicing policy updates.
| Announcement SVC-2024-06 – Servicing Guide Update | November 13, 2024-The November Servicing Guide update clarifies that sellers and servicers are responsible for preventing, detecting and reporting mortgage fraud, and clarifies eMortgage servicing requirements. It incorporates the changes to reporting due date for summary reporting mortgage loans as well as other miscellaneous updates. |
| Announcement SVC-2024-05 – Servicing Guide Update | September 11, 2024-The September Servicing Guide update clarifies servicer responsibilities related to the charge-off and second lien consideration processes and submission requirements. |
| Announcement SVC-2024-04 – Servicing Guide Update | July 10, 2024-The July Servicing Guide update clarifies expense reimbursement policies and provides other miscellaneous updates. |
| Servicing Notice - Republic Mortgage Insurance Company acquired by Arch Capital Group Ltd. | June 12, 2024-Fannie Mae has approved the acquisition of Republic Mortgage Insurance Company and Republic Mortgage Insurance Company of North Carolina and its affiliates (RMIC) by Arch U.S. MI Holdings, Inc., a subsidiary of Arch Capital Group Ltd. RMIC is now an affiliate of our approved mortgage insurers Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company. |
| Lender Letter LL-2024-02 Updates to Determining the Flex Modification Terms | May 29, 2024-(Updated Oct. 2, 2024) We updated Lender Letter LL-2024-02, Updates to Determining the Flex Modification Terms, to clarify that when determining the final Fannie Mae Flex Modification terms, the servicer must use the same interest rate as established when determining the terms for the Trial Period Plan. |
| Announcement SVC-2024-03 – Servicing Guide Update | May 8, 2024-The May Servicing Guide update includes changes to clarify the submission requirements for Audited Financial Statements, Form 1001, and Form 582, as well as other miscellaneous updates. |
| Selling and Servicing Notice - Regarding Recent Clarifications of Lender and Servicer Property Insurance Responsibilities | May 8, 2024-We are responding to concerns heard regarding lenders’ and servicers’ ability to comply with our long-standing policy to obtain the replacement cost value following our Feb. Selling Guide and Servicing Guide Announcements. |
| Announcement SVC-2024-02 – Servicing Guide Update | March 13, 2024-This announcement adds instructions to the Loan Modification Agreement (Form 3179) in response to New York’s Foreclosure Abuse Prevention Act and the instructional provision related to MERS and provides other miscellaneous updates. |
| Announcement SVC-2024-01 – Servicing Guide Update | February 14, 2024-The February Servicing Guide update clarifies servicer responsibilities related to monitoring and verification of property insurance coverage and provides other miscellaneous updates. |
| Announcement SVC-2023-06 – Servicing Guide Update | December 20, 2023-The December Servicing Guide update advises large non-depository sellers/servicers of updates to the frequency of financial reporting requirements and provides other miscellaneous updates. |
| Announcement SVC-2023-05 – Servicing Guide Update | October 11, 2023-(Republished Nov. 29, 2023) The October Servicing Guide updates the Loan Modification Agreement including with additional instructions, updates Fannie Mae’s minimum requirements for law firms selected and retained for default-related legal services, and other miscellaneous updates. |
| Lender Letter LL-2023-07 COVID-19 Payment Deferral and Fannie Mae Flex Modification for COVID-19 Impacted Borrowers | August 9, 2023-(Updated December 13, 2023) This Lender Letter updates policies previously published in LL-2023-07 (and updated on Aug. 9 2023) to clarify that, when the servicer is evaluating a borrower for a Fannie Mae Flex Modification in the circumstance where the borrower has become 60 days delinquent within 6 months of a COVID-19 payment deferral’s effective date and the servicer has been unable to achieve QRPC, the servicer is not required to have reported the mortgage loan with reason for delinquency code 022, Energy-Environment Costs, prior to the date of the Flex Modification evaluation. |
| Announcement SVC-2023-04 – Servicing Guide Update | July 12, 2023-The July Servicing Guide update adjusts the requirements for partial release of security and makes miscellaneous changes. |
| Announcement SVC-2023-03 – Servicing Guide Update | May 10, 2023-The May Servicing Guide update introduces and clarifies requirements for servicing mortgage loans subject to resale restrictions or shared equity provisions; automates the Non-Routine Litigation form and requires electronic submission; and provides an updated agreement for refinancing an eNote in New York. |
| Lender Letter LL-2023-05 – Advance Notice of Changes to Master Servicing Processes and Systems | April 19, 2023-(Updated December 11, 2024) This Lender Letter contains the policies previously published in LL-2021-12 on Dec. 14, 2022, with the changes noted within. It provides advance notice of upcoming changes to our Master Servicing processes and systems, including updated reporting requirements based on remittance type and clarifications on the timing for summary reporting mortgage loans. |
| Announcement SVC-2023-02 – Servicing Guide Update | April 12, 2023-We’ve made miscellaneous Servicing Guide updates related to compliance with requirements and laws; Disaster Response Network™ and Know Your Options™ references; loan property address changes; and certain Fannie Mae contact information. We also posted borrower-facing documents related to our recently updated payment deferral policy. |
| Lender Letter LL-2023-04 – Payment Deferral, Disaster Payment Deferral, and Other Updates | March 29, 2023-(Updated August 9, 2023) This Lender Letter provides an update to the standard payment deferral workout option. Key changes include allowing the deferral of at least two and up to six months of past due principal and interest (P&I) payments, including escrow and servicing advances paid to third parties. The borrower may not defer more than 12 months of cumulative past-due P&I payments over the life of the loan. Servicers may implement these changes starting July 1 but must implement by Oct. 1. |
| Announcement SVC-2023-01 – Servicing Guide Update | March 8, 2023-The March Servicing Guide update includes changes to pre-foreclosure property preservation requirements – specially, updates to property inspections and preservation expense reimbursement limits and guidance; and miscellaneous updates. |
| Lender Letter LL-2023-03 – Impact of COVID-19 on Servicing | March 8, 2023-(Updated August 9, 2023) Updates the provisions regarding the suspension of foreclosure-related activities and filing motions for relief from the automatic stay in certain bankruptcy cases. |
| Servicing Notice - Legacy LIBOR Replacement Index | March 8, 2023-(Updated December 13, 2023) The Servicing Notice announces that the replacement index that will be used for servicing our legacy single-family LIBOR mortgage loans is the spread-adjusted term SOFR administered by the CME Group Benchmark Administration, LTD. and published by Refinitiv Limited. The Federal Reserve Board selected the replacement rates as required by the Adjustable Interest Rate (LIBOR) Act and in anticipation of LIBOR’s cessation on the day after June 30, 2023. |
