As set forth in Lender Letter LL-2020-02, Impact of COVID-19 on Servicing, we have communicated temporary policies to enable servicers to better assist borrowers impacted by COVID-19, including suspending foreclosure-related activities until Dec. 31, 2020. With Lender Letter LL-2020-07, we have also introduced a new retention workout option, COVID-19 payment deferral. The guidance released in these Lender Letters is in combination with Fannie Mae’s existing loss mitigation policies, including forbearance plans for up to 12 months.
See below for more information on COVID-19: