Retention Options

Fannie Mae offers servicers a flexible way to help more borrowers retain their homes while enduring a hardship. 

Loan Modification

A loan modification might be available to eligible borrowers who have experienced a permanent or long-term hardship and whose loans are delinquent, or  are determined to be in imminent default in accordance with the Servicing Guide.

Flex Modification

The Flex Modification offers eligible homeowners mortgage payment relief:

  • For borrowers less than 90 days delinquent, the modification requires a complete Borrower Response Package and targets a 20% principal and interest payment reduction and 40% housing expense-to-income ratio.
  • For eligible  borrowers 90 or more days delinquent, the modification targets a 20% payment reduction and requires no Borrower Response Package.

The Flex Modification may result in some principal forbearance in accordance with F-1-27 of the Servicing Guide.

Borrower Assistance

Help Borrowers Avoid Foreclosure

  • Know Your Options is Fannie Mae's consumer education initiative that explains the range of options available to homeowners in extraordinary circumstances and provides guidance on how to seek help.