QRPC is required to offer a forbearance plan to a borrower impacted by COVID-19. However, Fannie Mae does not dictate the method by which QRPC is achieved. The servicer must fulfill the purpose of QRPC as required in Servicing Guide D2-2-01, Achieving Quality Right Party Contact with a Borrower:
- determine the reason for the delinquency and whether it is temporary or permanent in nature,
- determine the occupancy status of the property,
- determine whether or not the borrower has the ability to repay the mortgage loan debt,
- educate the borrower on the availability of workout options, as appropriate, and
- obtain a commitment from the borrower to resolve the delinquency.
These requirements apply whether the mortgage loan is current or delinquent.
Please note that all contact attempts must be documented in the mortgage loan servicer file, and that the servicer is authorized to use various outreach methods to contact the borrower as permitted by applicable law, including but not limited to:
- texting, and
- voice response unit technology.
See Servicing Guide A4-2.1-04, Establishing Contact with the Borrower for the servicer’s responsibilities in its attempts to contact a borrower.
It is Fannie Mae’s position that our Servicing Guide policies allow for servicers to both obtain QRPC and potentially offer a forbearance plan based on information received from the borrower. For example, a servicer receiving a partial or incomplete BRP is authorized to evaluate the BRP and offer a forbearance plan, if eligible, so long as the information necessary for the borrower to qualify for the forbearance plan, including the hardship, can be derived from the partial or incomplete application.
This FAQ is from the Fannie Mae COVID-19 Frequently Asked Questions.
See below for more information on COVID-19:
- The full list of Fannie Mae’s COVID-19 Frequently Asked Questions: https://singlefamily.fanniemae.com/media/22361/display
- Fannie Mae’s COVID-19 page: https://www.fanniemae.com/portal/covid-19.html
- The Impact of COVID-19 on Servicing: https://singlefamily.fanniemae.com/servicing#servicing-promo
- Fannie Mae Servicing Lender Letter LL 2020 02: https://singlefamily.fanniemae.com/media/22261/display