Servicing Guide

Published November 10, 2020

For best results, pose your search like a question.

Guide Resources

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

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

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

Launch Ask Poli  

Download PDF Guide

You can also download the printable ~800 page PDF, which include links.

Download Now

What information must be included in the notice for an interest rate change for ARM plan in which the interest rate changes more frequently than the payment?

The following table provides a list of additional information that must be included in the notice for an interest rate change for ARM plans in which the interest rate changes more frequently than the payment.

Notice Requirements
 

The method used to determine the full payment amount and why the monthly payment will not be changed to that amount (if applicable).

 

The amount of any negative amortization that will occur until the next interest change date when the monthly payment is not being changed to keep pace with the mortgage loan interest rate.

Click here to see the additional notice requirements for an interest rate change for ARM plan in the instance the borrower is given the option of limiting the payment increase.

See below for related Q&A’s:

What are the general requirements for notifying the borrower of ARM change notices?

What action must the servicer take when notifying the borrower regarding interest rate and/or payment changes specific to plans with payment caps?

What information must be included in the Arm payment change notification when the monthly payment changes more frequently than the interest rate?

For more information please see: C-2.1-02: Notifying the Borrower Regarding Interest Rate and/or Payment Changes.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

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

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.