Servicing Guide

Published September 9, 2020

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What are the servicer responsibilities when processing and applying payments using buydown funds?

The servicer must send notification detailing the pending rate increase to the borrower 90 days prior to the payment change. As long as a mortgage loan is under an interest rate buydown plan, the servicer must treat the portion of the payment received from the borrower in accordance with the plan as a full installment. 

For more information please see: C-1.1-02: Processing Payment Shortages or Funds Received When a Mortgage Loan Modification Is Pending

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Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

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