Servicing Policy Communications
Access a list of Servicing Announcements, Lender Letters and Notices to stay current on Fannie Mae's latest servicing policy updates.
| 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. |
