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-2020-04 – Servicing Guide Update | September 9, 2020-(Republished November 10, 2020) September’s Servicing Guide update revises the allowable foreclosure attorney fees for Hawaii, incorporates disaster payment deferral policy and references to payment deferral throughout the Guide, updates the authority to offer an initial forbearance plan of up to three months without achieving quality right party contact (QPRC) in connection with a disaster event, and removes outdated references to Master Agreements. |
| Lender Letter LL-2020-11 – Disaster Payment Deferral | August 27, 2020-This Lender Letter introduces a new retention workout option to assist borrowers with a disaster-related hardship. |
| Announcement SVC-2020-03 – Servicing Guide Update | July 15, 2020-July’s Servicing Guide update simplifies our loss draft disbursement policies while balancing risk, revises post-disaster credit reporting requirements, authorizes servicers to not send a payment reminder notice to borrowers in an active forbearance plan, encourages servicers to make borrowers aware of our disaster recovery counseling services, and other miscellaneous updates. |
| Lender Letter LL-2020-08 – Servicer Principal and Interest Requirements Change | July 15, 2020-This Lender Letter aligns policies with Freddie Mac to limit servicer obligations to advance scheduled monthly payments to four months for scheduled/scheduled (S/S) remittance type mortgage loans and introduces a streamlined operational process that maintains our existing investor reporting requirements. |
| Lender Letter LL-2020-09 – Incentive Fees for Retention Workout Options | July 15, 2020-This Lender Letter introduces a new temporary structure for incentive fees for completed repayment plans, payment deferrals/COVID-19 payment deferrals, and Fannie Mae Flex Modifications. |
| Announcement SVC-2020-02 – Servicing Guide Update | June 10, 2020-The June Servicing Guide update includes changes to the pre-modification housing expense-to-income ratio calculation for imminent default and cash contribution, with updated instructions to servicers regarding escrow shortages that are part of the full monthly contractual payment, and an update to the Mortgage Assistance Application (Form 710). |
| Servicing Notice – Update to Retirement Date for HomeSaver Solutions Network Workout Functionality | May 20, 2020-In Servicing Notice, Advance Notice of Retirement of HomeSaver Solutions Network Workout Functionality (Oct. 30, 2019), we informed servicers that we will retire and transition the mortgage loan workout reporting and related functionality in the HomeSaver Solutions Network (HSSN) to Servicing Management Default Underwriter™ (SMDU), SMDU UI and SMDU Case Management for all workout reporting processes. In response to servicer feedback and as a result of the impact of COVID-19, we are postponing the Dec. 31, 2020 retirement date previously communicated in that Notice. |
| Announcement SVC-2020-01 – Servicing Guide Update | February 12, 2020-February’s Servicing Guide update revises the foreclosure milestone schedule, eliminates prorated foreclosure fee requirements, clarifies delinquency exception reporting, and more. |
