Servicing Guide

Published October 14, 2020

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What are the servicer's responsibilities related to achieving QRPC and offering a forbearance plan when a borrower is impacted by COVID-19?

NOTE: The response to this Q&A is directly from Fannie Mae Lender Letter (LL-2020-02), Impact of COVID-19 on Servicing.

Attempting to establish QRPC UPDATED Apr. 8, 2020

As described in Servicing Guide D2-2-01, Achieving Quality Right Party Contact with a Borrower, QRPC is a uniform standard for communicating with the borrower, co-borrower, or a trusted advisor (collectively referred to as "borrower") about resolution of the mortgage loan delinquency. We reaffirm the applicability of QRPC when working with a borrower impacted by COVID-19 to ensure the servicer understands the borrower's circumstances and determines the best possible workout option for resolving the borrower's delinquency. In the event that the servicer is unable to achieve full QRPC and offers a forbearance plan to a borrower impacted by COVID-19 in compliance with the CARES Act, the servicer is considered to be in compliance with our Servicing Guide.

In response to servicer inquiries and in accordance with Servicing Guide A4-2.1-04, Establishing Contact with the Borrower, among other requirements, the servicer is authorized to use various outreach methods to contact the borrower as permitted by applicable law, including, but not limited to

▪ mail,

▪ email,

▪ texting, and

▪ voice response unit technology.

 

For more information see Fannie Mae Lender Letter (LL-2020-02), Impact of COVID-19 on Servicing

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