Servicing Guide

Published November 10, 2020

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During a suspended payment forbearance plan, what happens to the interest on the mortgage loan?

During a forbearance plan, interest is not paid but still accrues.  After the forbearance plan is complete, if the borrower is approved for another workout option, the type of workout option offered will determine how the interest is handled. For example, if the mortgage loan is brought current via a COVID-19 payment deferral, the missed principal and interest payments will not be capitalized into the new modified UPB.  Instead, the borrower’s missed payments will be placed into a non-interest bearing balance due at maturity of the mortgage loan or earlier payoff.

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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