Servicing Guide

Published June 10, 2020

The Servicing Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Servicing Guide in PDF format.

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What is a forbearance plan?

A forbearance plan is a retention option in our workout hierarchy for a borrower with an eligible hardship that is temporary in nature and has not been resolved. A forbearance plan provides for a period of reduced or suspended contractual monthly mortgage payments, followed by a full reinstatement, mortgage loan payoff, or another workout option to enable the borrower to resolve the delinquency. For more information see Servicing Guide D2-3.2-01, Forbearance Plan.  

As a reminder, the servicer must inform the borrower that the payments which are the subject of a forbearance plan have only been delayed or reduced, not forgiven. The servicer must also inform the borrower that he or she may shorten a forbearance plan term at any time to reduce the amount of payments which are being delayed or reduced.   

Please note that Fannie Mae has released COVID-19 specific guidelines related to forbearance plans in accordance with the CARES Act; see Lender Letter LL-2020-02, Impact of COVID-19 on Servicing.  

Note: This FAQ is from the Fannie Mae COVID-19 Frequently Asked Questions.

See below for more information on COVID-19:

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