Retention Options
Fannie Mae offers servicers a flexible way to help more borrowers retain their homes while enduring a hardship.
We’re Here to Help
Find our COVID-19 policy information and related resources on our Here to Help site.
We’ve consolidated our resources to help you stay informed.
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.
Default-Related Legal Services
Managing Default-Related Legal Services
Resources are available to assist in default-related legal services.
- Conducting Default-Related Law Firm Compliance Reviews FAQs
- Excess Attorney Fee/Cost Guidelines
- Allowable Title Cost for Fannie Mae Foreclosures
- Mortgage Default Counsel Retention Agreement Amendment 2018-3 - 8/2/18
- Mortgage Default Counsel Retention Agreement Amendment 2018-2 - 6/6/18
- Mortgage Default Counsel Retention Agreement Amendment 2018-01 - 4/18/18
- Mortgage Default Counsel Retention Agreement
- Schedule of Legal Fees and Costs