Fannie Mae: SVC-2020-06: Servicing Guide Updates
Investor Update
November 10, 2020
Source: Fannie Mae
The Servicing Guide has been updated to include changes to the following:
▪ Disaster Payment Deferral*: updates to reflect changes previously announced in the Evaluation Notices and payment deferral agreement
▪ Miscellaneous revisions*: updates to terminology
* Policy change not applicable to reverse mortgage loans.
Disaster Payment Deferral
As stated in Announcement SVC-2020-05, we revised our Evaluation Notices and payment deferral agreement with regard to a borrower maintaining or losing HAMP “pay for performance” incentives to eliminate such action being tied to “good standing.” In follow-up to that announcement, we have updated D2-3.2-06, Disaster Payment Deferral accordingly.
Miscellaneous revisions
In multiple topics we have changed the term “curtailment” to “principal curtailment” for consistency across the Guide and in the Investor Reporting Manual, which has also been updated. (The topic dates were not updated.)
See the Servicing Guide for details about these updates.
Servicers who have questions about this Announcement should contact their Fannie Mae Account Team, Portfolio Manager, or Fannie Mae’s Single-Family Servicer Support Center at 1-800-2FANNIE (1-800-232-6643).
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