Fannie Mae Lender Letter LL-2020-02 extends the availability of the forbearance mortgage loan modifications to borrowers impacted by COVID-19. While the instructions below are for manually reporting forbearance related to COVID-19 to Fannie Mae using AMN, the details also apply to bulk file uploads. The existing Delinquency Status Code Reporting processes, reporting timelines and other responsibilities still apply.
- Select the Add New Delinquent Loan link from the Delinquency Reporting section.
2. Enter the following:
- Seller/Servicer Number Select from the dropdown menu.
- Loan Number – Enter the Fannie Mae loan number.
- Status Code– Select 09 – Forbearance
- Reason Code – Select 022 – Energy – Environment Costs.
NOTE: This Reason Code is currently defined as Energy – Environment Costs, however, this will be repurposed for COVID-19. For mortgage loans where the servicer would have reported reason for delinquency code 022, Energy-Environment Costs, the servicer must now use reason for delinquency code 007, Excessive Obligations.
- Effective Date – Enter the 1st day of the month the forbearance is made effective; the 1st payment due date on the forbearance plan.
- Completion Date – Enter the 1st day of the month the forbearance is expected to be completed; the last payment due date on the forbearance plan.
- Forbearance Program Type Code –Select 0 – No Plan.
3. Click Submit.